The specialist lender saw a significant increase in its average monthly loans to £98.8m, up 17.2% on 2016’s £84.3m.

Together also reported strong growth in underlying earnings before interest, tax, depreciation and amortisation to £193.4m, up 21.4% (2016: £159.3m), and an increase in underlying profit before tax to £117.1m (2016: £90.3m).

Statutory profit before tax increased to £94.1m (2016: £90.3m).

Mike McTighe, group chair at Together (pictured above), said: “Together delivered another record performance in the year to 30th June 2017, with sustained growth in lending volumes and profitability underpinned by continued investment for future growth and a corresponding increase in the scale, depth and diversity of our funding structure.

•   Host of hires boosts our business
•   Together teams up with online auction marketplace
•   Together partners with broker networks

“We further enhanced our position as one of the UK's leading specialist secured lenders, growing the loan book by 24.4% to £2.24bn, with originations averaging over £98.8m per month and our weighted average loan-to-value of new originations remaining conservative at 57.1%.

“We also increased underlying profit before tax by 29.7% to £117.1m, while accelerating our programme of significant investment across the business to support our future growth ambitions.

“The group raised significant additional liquidity to support future growth, issuing £575m of senior secured notes and repaying £300m of existing notes, introducing a new £90m asset-backed facility and increasing and extending our revolving credit facility."

Marc Goldberg, commercial CEO at Together, added: “This is another set of fantastic results and is a testament not only to the strength of our business model and our commonsense approach to lending, but also to the hard work and dedication of our colleagues, who consistently strive to deliver the best outcomes for our customers.

“[The] results highlight our position as a leader in the specialist lending sector, and we have exciting plans for continued growth as we move forward.”