LeasePlan’s net profit increased by almost
€30m in the first half of 2010 to €90m.
The fleet management company, which operates
in 30 countries worldwide, said that improvements in interest
margins and a steady recovery in the used vehicle market
contributed to the increase.
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LeasePlan CEO Vahid Daemi said: “Our increase
in profit was supported by the stability and diversity of our
operating income.
“The used vehicle market continued to recover
and, in combination with our risk mitigating actions, has resulted
in a substantial improvement in contract termination results.”
The size of the fleet under management has now
stabilised at a level of 1.3 million vehicles worldwide, LeasePlan
said.
Its internet saving bank, launched in February
this year in order to diversify its funding base, reached €1bn in
August.
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By GlobalDataThe lessor is “cautiously optimistic” about
the business environment in the majority of countries where it
operates. For the second half of 2010, it expects to achieve at
least the same profit as in the first half.
