We only use cookies for website functionality and security.

Latest results – 2024 Half year results

The strength of our business model, long-term track record, and improving customer sentiment, means the Group is well placed to continue supporting our customers’ ambitions whilst delivering strong returns for our shareholders and capitalising on the opportunities in our chosen specialist markets.

Nigel Terrington
Chief Executive


Key information

Woman using tablet

Wednesday, 05/06/2024

Results statement

Results Presentation

Wednesday, 05/06/2024

Results presentation

Woman using laptop

Wednesday, 05/06/2024

Webcast replay

Performance summary

For the six months ended 31 March 2024

£146.3 million
+13.5%

Underlying operating profit*
(2023 H1: £128.9 million)

49.9 pence
+17.4%

Underlying earnings per share*
(2023 H1: 42.5 pence)

13.2 pence
+20.0%

Interim dividend per share
(2023 H1: 11.0 pence)

£15.2 billion
+4.8%

Total loan book
(2023 H1: £14.6 billion)

3.19%
+24bps

Net interest margin
(2023 H1: 2.95%)

20.8%
 

Underlying return on tangible equity*
(2023 H1: 18.7%)

*For underlying basis, see Appendix A of half year results announcement

The strength of our business model, long-term track record, and improving customer sentiment, means the Group is well placed to continue supporting our customers’ ambitions whilst delivering strong returns for our shareholders and capitalising on the opportunities in our chosen specialist markets.

Progress on strategic priorities

progress-on-strategic-priorities-1

Growth

Buy-to-let pipeline up 47% from 2023 year-end position

progress-on-strategic-priorities-2

Diversification

Commercial Lending 48% of 2024 H1 new lending

progress-on-strategic-priorities-3

Digitalisation

Launch of new mortgage origination platform imminent

progress-on-strategic-priorities-4

Capital management

Continued strong internal capital generation

progress-on-strategic-priorities-5

Sustainability

55% of 2024 H1 buy-to-let lending EPC A-C

News and reports

A man looks lovingly at his mobile phone

ISA savers act early

A house shape made of leaves

Green Homes Initiative fund increases to £300 million

2023 Responsible Business Report

2023 Responsible Business Report

Financial calendar

  1. Click 'Add to Outlook calendar'
  2. Open the downloaded file
  3. Click 'Save & Close'
30
July
2024

Q3 Trading update

Add to Outlook calendar

03
December
2024

Full year results

Add to Outlook calendar

For enquiries about the results

Investors and analysts

Paragon – Nicola Foster and Kathryn Rhinds

0345 849 4003

Media

Headland – Lucy Legh and Charlie Twigg

020 3805 4822