- Virgin cheers investor with dividend return
- Struggles to break the unforeseen costs habit
Investors had consistently chased shares in Virgin Money (VMUK) higher prior to the full-year results, betting that the diverse financial services group, which encompasses Clydesdale Bank, Yorkshire Bank and the Virgin Money brand, would benefit from higher margins and a general recovery in its core lending markets. To a certain degree, these results confirmed the substance of that analysis with VMUK delivering on its forecast of improved margins – the net interest margin widened by six basis points to 1.62 per cent. Combined with a return to a dividend, the general impression of the company’s prospects was more positive than it has been for some time.