The UK arm of the German technology
finance group posted a loss after tax of £1.05m (€1.25m) in the
year to 31 December 2009, due in part to a fourfold hike in the tax
bill, consolidated results show.
Profit before tax was down 22% to
£616,000, and operating profit fell 22.3% to £839,000.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The performance was “satisfactory
when set against the challenging economic conditions of 2009”, the
company report said.
Operating expense was also down
6.3%.
The fall in profit before tax was
linked to the deferral of a number of transactions to early this
year, including “returns to the warehouse”. This meant sale
proceeds from the equipment were not reflected in 2009.
The report also notes the
acquisition in July of CHG-Meridian Capital Ltd, formerly Wyse
Leasing (Holdings UK), saying it has “strengthened and broadened
the group’s position in the leasing sector, as well as providing
alternative routes to market.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe total number of assets placed on lease also rose 9% and the
number of new customers was up 57%.
