All articles by Verdict Staff
Verdict Staff
Hot off the press
Leasing Life, in collaboration with Tallon & Associates, publishes a monthly analysis of data on the demand for used assets This month, we look at the changes in demand for the printing sector Demand remains steady for good quality, late model equipment
SG Equipment Finance slows
SG Equipment Finance also experienced a slowdown in activity in the first quarter, with new financing dropping by 5.8 percent year-on-year to 2 billion Although France saw new finance grow by 21.3 percent, driven by high-tech equipment, other countries performed less well, particularly Germany (down 7.5 percent), Italy (down 15.7 percent) and Norway (down 17.4 percent)
CFC Solutions launches new contract manager
CFC Solutions, the software provider specialising in fleet management solutions, has launched a new version of its contract manager software The company, which aims to win a larger share of the car and LCV leasing sector, said that this is its first product to be sold on a software-as-a-service (SaaS) basis Neville Briggs, the companys MD, said that the product is suitable for vehicle leasing companies of all sizes, and integrates the management of fleet contracts, sales activities and accounting into one product
The Entrepreneur
With bank-owned lessors in the UK being extremely cagey about funding unfamiliar assets, one of the toughest positions to hold is that of a supplier setting up in business with a completely original product, and hopes of building a leasing sales model.
BNP Paribas revenues fall
BNP Paribas equipment solutions division made a pre-tax loss of 16 million in the first quarter of 2009 representing a hefty fall compared to the 89 million pre-tax profit it achieved in the same period last year The division, which includes BNP Paribas Lease Group as well as the Artegy, Arius and Arval subsidiaries, saw revenues fall by just over 25 percent year-on-year, to 212 million last quarter
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NetSol’s revenues down 45%
Revenues at NetSol Technologies during the first quarter of this year totalled $5 million (3.6 million), a 45 percent drop on last year, according to latest figures NetSol CEO Najeeb Ghauri said that while the results reflected the economic downturn, the company had made significant progress in terms of cost reductions as well as the streamlining of our global organisational structure
Regenesis prepares AIM delist
Specialist short-term asset finance provider Regenesis Group is considering delisting from AIM, after posting a pre-tax loss of £121,000 (136,000) in the year ending 31 December 2008.
CA Leasing ‘resilience’
Crdit Agricoles factoring and lease finance businesses showed strong resilience in the first quarter of the year, the French company reported Although the bank reported a rise of 15 percent in net income in its lease finance businesses, to 77 million, its factoring arm saw factored receivables fall by just under 3 percent year-on-year
Low interest rates hit Cat FS
Cat Financial, Caterpillars captive finance subsidiary, has seen revenue fall by 13 percent year-on-year in the first quarter of 2009 Revenues totalled $681 million (491 million), a decrease of $105 million on the first quarter of 2008.
JCB clarifies plant benefits
JCB Finance has praised the temporary doubling of tax relief on plant purchases over £50,000 (57,000) announced in last months Budget, despite confirmation from HMRC the move will not benefit hire companies offering self-drive equipment.