February 01, 2015 4:13 AM ET

Diversified Financial Services

Company Overview of Newcastle Building Society

Company Overview

Newcastle Building Society, a building society, provides savings, investment, mortgage, and insurance products to members and customers in the United Kingdom. It offers home insurance, life protection, and landlords’ insurance. The company also provides residential and commercial property rental services; financial advice; specialized products and services; managed IT services; and business-to-business services through people, processes, and technology. Newcastle Building Society is headquartered in Newcastle upon Tyne, the United Kingdom.

Portland House

New Bridge Street

Newcastle upon Tyne,  NE1 8AL

United Kingdom

876 Employees

Phone:

44 19 1244 2000

Key Executives for Newcastle Building Society

Chief Executive
Age: 58
Deputy Chief Executive
Age: 47
Chief Operating Officer and Executive Director
Age: 50
Group Secretary
Executive
Compensation as of Fiscal Year 2014.

Newcastle Building Society Key Developments

Newcastle Building Society Announces Board Changes

Newcastle Building Society appointed Karen Ingham and Richard Bottomley as Non-Executive Directors. Ms Ingham has extensive customer services experience and is currently the Director for Customer Services within Virgin Media, responsible for all front line operations. Mr. Bottomley was senior partner in KPMG's Newcastle office for a number of years and has more than 25 years experience in corporate finance and strategy. Latterly, he has worked as a financial and business advisor to a range of organizations.

Newcastle Building Society Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014

Newcastle Building Society reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, interest and similar income was GBP 12.5 million against GBP 11.9 million a year ago. Total operating income was GBP 23.6 million against GBP 23.7 million a year ago. Operating profit before impairments, provisions and exceptional items was GBP 5.9 million against GBP 5.8 million a year ago. Profit before taxation was GBP 0.8 million against loss before taxation of GBP 0.8 million a year ago. Profit after taxation for the financial period was GBP 0.6 million against loss after taxation for the financial period of GBP 0.9 million a year ago. Net cash flows from operating activities was GBP 22.85 million against negative net cash flows from operating activities of GBP 168.5 million a year ago.

Newcastle Building Society Announces Preliminary Consolidated Earnings Results for the Year Ended December 31, 2013

Newcastle Building Society announced preliminary consolidated earnings results for the year ended December 31, 2013. For the period, the company reported interest receivable and similar income was £95.0 million compared to £110.3 million a year ago. Net interest receivable was £23.4 million compared to £19.9 million a year ago. Operating profit before impairments, provisions and exceptional items was £10.6 million compared to £10.4 million a year ago. Profit for the year before taxation was £2.0 million compared to £1.5 million a year ago. Result after taxation was £0.1 million. Net cash used in operating activities was £259.3 million compared to £73.4 million for the same period a year ago. Purchase of property, plant and equipment was £0.6 million compared to £1.7 million for the same period a year ago.

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