StockMarketWire.com - Specialist bank PCF Group booked a 56% rise in first-half profit after it boosted the size of its loan portfolio.

Pre-tax profit for the six months through March rose to £3.3m, up from £2.1m on-year.

Operating income jumped 51% to £10.1m, as the portfolio grew 54% to £276m.

Impairments losses rose to £1.2m, up from £0.6m.

The company did not declare an interim dividend.

'This has been another highly successful period for the group,' chief executive Scott Maybury said.

'We set ourselves ambitious targets and are on track to deliver these ahead of schedule.'

'Prudent capital management led us to increase the capital base and diversify the capital structure.'

'This mitigates the potential risk of market volatility that may arise in these uncertain times and provides a strong base to support ongoing growth.'

'We remain on track to meet market expectations and with the enhanced capital structure in place, we are well set to implement our 2019 objectives and medium-term plans.'

'We look forward to reporting continued success as the year progresses.'





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