Mammoth Jerrold Holdings profits are up 16 percent

Blemain's parent company, Jerrold Holdings, has announced today a profit 16 percent bigger than last year: a plump £52 m before taxation for the year ended 30 June 2014.

Its main area of activity is secured lending towards residential and commercial property and its growth reflects a sector-wide trend.

Jerrold's loan book grew by £50m in the last quarter alone, to £1.08bn.

Commenting on th results, Gary Beckett, Jerrold Group CFO, said: “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.”