Permanent TSB Group Holdings PLC (FRA:IL0A)
€ 1.39 -0.03 (-2.11%) Market Cap: 742.00 Mil Enterprise Value: 601.00 Mil PE Ratio: 30.22 PB Ratio: 0.31 GF Score: 57/100
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Half Year 2019 Permanent TSB Group Holdings PLC Earnings Call Transcript

Jul 25, 2019 / 08:00AM GMT
Release Date Price: €1.19 (-0.83%)
Jeremy John Masding
Permanent TSB Group Holdings plc - Group CEO & Executive Director

Good morning. Welcome to our 2019 half year results presentation. I'm going to give a short presentation on the progress made so far in 2019. After which, our CFO, Eamonn Crowley, will provide a more detailed review of our financial performance. And then I will be happy to take your questions after that.

Perhaps I could now ask you to turn to Slide 4. I'm pleased to say that business performance so far in '19 has been strong, in particular in mortgage lending. We outperformed the market, grew total new lending by over 22% to EUR 730 million, thereby maintaining our market share of circa 15% from the end of '18.

The bank is reporting a profit before tax of EUR 28 million and an underlying profit of EUR 42 million. This represents a better quality of earnings, the ongoing strength of the franchise and our ability to compete. Indeed, with most of the legacy issues behind us, management now has a strong foundation on which to deliver profitable growth for shareholders. We have a clear management

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