Skipton's results reflect 'robustness' of business, says CEO

Skipton has published its interim results, covering the six month period from January 1 to June 30 2017.

The total group profit before tax (PBT) over the half year was £67.0m, compared with £76.8m in the same period last year.

Skipton also delivered a 19 per cent increase in underlying group profit before tax to £87.4m.

David Cutter, Skipton’s group chief executive, said: “Skipton has delivered another strong performance during the first six months of 2017, further strengthening its CET 1 capital ratio to 28.9 per cent, growing savings balances by £0.5bn, mortgage balances by £0.7bn, and underlying profit before tax by 19.4 per cent to £87.4m. Customer numbers increased by 25,907, and for the third year in a row, the society was included in the Sunday Times Top 100 Companies to Work For.

“The robustness of the business was recognised by the global credit rating agency Moody’s, who upgraded the society for the third time in four years.”