Fleet News

Paragon announces profits boost

PARAGON, the specialist lender which includes Paragon Car Finance, has announced pre-tax profits of £35.5 million for the year to September 30 on turnover of £186 million. The Solihull-based company operates a 3,000-strong contract hire fleet and was placed 48th in this year's Fleet News FN50.

Paragon Car Finance managing director Pawan Pandya said: 'During the period the company doubled in size, grew new advances almost 60% over 1999 and confirmed its position as a leading player in the car finance market. Our dealer network has expanded to over 2,000 dealers with an ever-increasing number of franchised dealers joining us.'

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