All articles by Claire Hack
Claire Hack
Russian-Estonian rail lessor sees 71% profit jump
Russian Estonian Rail Services (RERS), which leases and repairs railcars in Russia, Kazakhstan, Ukraine, Latvia, Lithuania and Finland, has reported a net profit in 2009 of EEK 75.1 million (4.8 million) Revenues were up 30% to EEK 108.8 million, according to the company’s annual report, while the gross profit margin was 73.5% and net profit margin was 69%.
Dräger signs leasing deal with hospital operator
Lbeck-based medical and safety equipment manufacturer Drger has signed a 10-year leasing deal with German hospital operator Gesundheit Nordhessen Holding, (GNH). The supervisory and executive boards of GNH are said to be transferring responsibility for the operation of about 10,000 electro-medical devices to Drger, which is to provide a state-of-the-art medical technology infrastructure from June 1
AerCap appoints three new board members
Dutch aircraft leasing company AerCap Holdings has announced the appointment of three new members of its board The appointments were announced at AerCapss Annual General Meeting and each new board member is to hold their post for four years. The new directors are Michael Gradon, Niall Greene and Paul Dacier, who were all previously on the board of Genesis Lease, which AerCap acquired in March
Portsmouth administrators refuse to pay for advert screens
The firm of accountants tasked with the administration of Portsmouth FC has apparently landed itself in further hot water after allegedly refusing to pay for a number of advertising screens leased by the embattled football club. According to a source close to the administration, UHY Hacker Young initially refused to include arrears on the screens of £85,000 in administration expenses, but, as of 6 May, had gone back on the decision. It is not known whether the change of heart was related to the revelation that UHY itself used the screens to advertise, as illustrated by an image obtained by Leasing Life which seems to show an ad running during a recent FA Cup tie between Portsmouth and Birmingham City.
Euro UK Hire hit by further scandal following arrests
Three men were arrested and bailed pending further enquiries into scandal-hit rental business Euro UK Hire. The Garda refused to confirm whether Euro UK Hire was the subject of an ongoing investigation but said no arrests had been made in Ireland.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
TPT Construction faces payment complaints
Leeds-based lessor Industrial & Corporate Finance Ltd (ICFL) is reportedly one of two companies issuing winding-up petitions against Pembrokeshire contractor TPT Construction.
Mass of new infrastructure opportunities for Europe’s lessors
Lessors have been presented with a raft of new opportunities across waste management, renewable energy and rolling stock within the infrastructure finance market as European governments seek to meet green targets and expand transport networks. The new UK government has pledged to increase the use of renewable energy and will promote a huge increase in energy from waste through anaerobic digestion AD, the financing of which could include leasing.
UK arm of BMW FS links positive quarter to poor loans market
The UK arm of BMW Financial Services (BMW FS) has reported a solid performance for the first quarter of 2010, Leasing Life has learned. Year-on-year, the first quarter of 2010 saw a rise of 16% in the number of finance applications processed by the business, including cars, motorbikes, Mini and Rolls Royce and both used and new vehicles.
New rail-based opportunities across Europe
This takes place in the wake of news that the Tory-Lib Dem coalition has also undertaken a pledge to establish a high-speed rail network as part of its programme to fulfil joint ambitions for creating a low carbon economy, although George Lynn, finance director of Angel Trains, the largest rosco, said the Intercity Express Programme (IEP) had been delayed.
Tory-Lib Dem agreements spell big changes ahead for UK’s leasing industry
Two new measures proposed by the Lib-Con coalition in their finalised agreement could have a dramatic effect on the leasing industry. Currently, capital allowances allow companies to deduct a proportion of the costs of certain purchases and investments from taxable profits, including long-term leasing (for example, seven years or more) on plant and machinery.