Enra Finance’s final profit for the year ending 31 December 2014 would have been higher if not for the outlay involved in the process of acquiring West One Loans in August. As a result of the outlay, only a portion of the bridging lender’s annual figures were included in the final group total.
The purchase of West One Loans has helped the Group’s overall loan book increase six-fold. CEO of Enterprise Finance, Danny Waters, said: “Being able to still turn a substantial profit factoring in the transitional phase of acquiring West One and incorporating it into our business is testament to the strength of the overall organisation and the reputation its constituent elements have in their respective fields,”
“It’s fair to say that 2015 has started with a bang too, with West One enjoying a record month in February completing more than £30 million worth of loans and increasing demand for secured loans ensuring prolific transaction levels at Enterprise Finance.
“As the year progresses and the EU Mortgage Credit Directive looms into view there are bound to be some protagonists pausing for breath as they evaluate the potential business implications,” he added.
“We have made a conscious decision to position our operations at the forefront of regulatory developments so it will be a case of full steam ahead for us throughout the year and into next as the brave new world beckons.”
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