Aldermore Group (LON:ALD) are trading up 8 percent this morning after releasing strong half yearly results.
The company, who specialise in lending to small and medium enterprises, disclosed an 109 percent increase in underlying profit before tax at £44 billion.
The net amount loaned to customers was up by £635 million in the first half of 2015, £5.4 billion.
The underlying return on equity increased to 18 percent from 11.7 percent in the same period last year.
The company recently listed on the London Stock Exchange and joined the FTSE 250.
CEO Phillip Monks said in a statement:
“These excellent results give us great confidence for the rest of 2015 and beyond. We remain committed to delivering strong, sustainable returns to shareholders.
“We’re excited by the significant ongoing growth opportunity presented by SMEs and homeowners, who we believe continue to be underserved by the wider market. Our track record and the great customer feedback we receive demonstrate that we’re exceptionally well placed to continue to support these customers and grow the business.”
