Profitability increases for Skipton Building Society

Skipton Building Society (SBS) saw profits for the first half of 2013 increase dramatically and virtually eclipse profit recorded for the whole of last year, figures have revealed. Pre-tax profits jumped by 59% to £34.4m for the six months up to June as a large rise in mortgage lending helped boost the mutual’s performance significantly. In comparison, the company recorded profits of £36.4 million for the whole of 2012. Almost 11,000 new members joined the building society during the period, with the majority of subsidiaries across the SBS group recording improved performances. Chief Executive, David Cutter, said of the company’s first half to 2013: “I am particularly pleased at the way in which we have achieved our results”. “We remain committed to being an organisation that cares about our customers, continually offering good value products to our members, backed up by outstanding personal service”, he concluded. The results were announced on Yorkshire Day, with the day’s events in Skipton having been sponsored by SBS.