All articles by Verdict Staff
Verdict Staff
LeasePlan UK broker arm implements Leaselink platform
Network, the fleet broker arm of LeasePlan UK, has implemented the Leaselink e-procurement platform from online solutions company Ebbon-Dacs across its network of franchisees. The platform, which allows brokers to source and order new fleet vehicles electronically, is expected to deliver cost savings of 10% to 15% over traditional methods of sourcing vehicles, the Oxford-based IT specialist said. Network account director Mike Thompson said the solution was in line with the companys goal to give franchisees the means to make their business as efficient and cost effective as possible.
On the move
The British Vehicle Rental and Leasing Association (BVRLA) has appointed Neil Cunningham as its new vice-chairman He has over 25 years of experience in the vehicle rental industry, and was responsible for Hertzs entry into the car sharing market in 2008.
PCFG ‘resilient’ in year to 31 March
AIM-quoted finance house Private & Commercial Finance Group (PCFG) has released its results for the year ending 31 March. The group saw pre-tax profit more than double to £528,361 (649,669) and also strengthened its balance sheet with £1.4m of new share capital and the repayment of £2.3m of loan stock.
Porterbrook ‘saves European company bond sales’
UK rolling stock lessor Porterbrook Rail has offered £520m (628m) of bonds to investors today (4 June), according to reports. Prior to this, deals from Air Liquide, the worlds largest producer of industrial gases, and state-owned German rail company Deutsche Bahn, on 2 and 3 June, had failed to keep issuance from heading towards a total short of 2.1bn.
Court case highlights lessors not bound by FLA rules
It recently came to light that the trade body was neither called upon to give evidence nor its guidelines heeded in a dispute between a school and a servicing company, linked to a leasing contract for photocopying equipment, which came to a UK county court in May.
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Bank VTB Armenia to join VTB Leasing ‘in a month’
Bank VTB Armenia is to merge with VTB Leasing within a month, it has been reported. Mher Grigorian, deputy CEO of Bank VTB Armenia, is said to have made the announcement that the bank will handle all transactions Russian lessor VTB was planning to carry out in Armenia at a news conference this month.
Contract awards for European public sector deals
Contract awards for the European public sector
?8.5bn new business in 2009 for French SGEF
The French lessor, with a network that covers 25 countries, said it increased market shares in specific markets and managed to offset the impact of the financial crisis by offering new services and improving operational efficiency.
Profits still healthy at Ford Credit UK
Ford Credit Britain, part of FCE Bank plc, reported annual pre-tax profits of £223m last month. However, it also showed a decrease in sales of new and used car lease contracts in 2009, dropping to 493,000, from 640,000 in 2008.
Hitachi completes fleet deal with media company
Hitachi Capital Vehicle Solutions has completed a deal for the sale and leaseback of 1,050 cars to A&N Media, the consumer division of Daily Mail & General Trust (DMGT). The management of the Associated Newspaper and Northcliffe Media fleets have been formalised by the deal, placing all the Northcliffe vehicles under an external lease arrangement in accordance with the group fleet policy.