Jerrold Holdings, the parent company of Blemain Group, has reported a 16% year-on-year increase in profit before tax to £52 million for the year ended 30 June 2014.
Jerrold Holdings is the secured lender to the residential and commercial property sectors. It recently completed an extension and expansion of its private securitisation programme, also saw its loan book grow by £50 million during the fourth financial quarter alone (an annualised rate of 20% growth) to now stand at £1.08 billion.
Gary Beckett, Jerrold Group CFO, said: “We are delighted to mark our 40th year of business with such a strong set of results. With increased funding levels and strong demand for our products, we have been able to increase loan book growth whilst also improving overall credit quality, setting the basis for a significant step up in future earnings and profitability.”
Gary Jennison, Jerrold Group Deputy CEO, added: “Our continued investment in operational infrastructure, people and product development, coupled with our capability to raise new funding, an established distribution network and high demand for our products that are tailored to our customers’ needs, place the group in a strong position to take advantage of existing and future growth opportunities.”