All articles by Grant Collinson
Grant Collinson
Share issue gives Ultimate Finance a £1m boost
UK leasing broker Ultimate Finance Group has raised £1m through a share placing on the Alternative Investment Market (AIM), London Stock Exchanges small business listing. Just over 7.46m ordinary shares were issued during the share placing on Friday 27 January at 13.4 pence per ordinary share, a discount of slightly over 5% on the closing price of the previous day. The placing, which was over-subscribed, was undertaken to strengthen the SME lenders balance sheet and reduce the groups gearing ratio, according to a company statement.
Strong equipment values here to stay, says Euro Auctions
Jonnie Keys, general manager of the specialist plant, commercial, and industrial equipment auctioneers, said he expected the prices of good second-hand equipment in the UK to continue to hold for the foreseeable future, at least until manufacturing comes up to speed.
Festive good will results in charity cheer
A record number of leasing professionals from the UK and continental Europe raised £13,700 for Macmillan Cancer Care at the industrys Charity Lunch in December. The Christmas lunch, held at the Institute of Directors in Londons Pall Mall on 16 December 2011, was attended by 170 senior figures from the leasing business all in aid of the UK cancer treatment charity. The organisers IAA-Advisory wished to extend their thanks to the IoD, to Nick Bonham, whose auctioneering raised over £9000from thegenerous donation of prizes and enthusiastic bidding, and to main event sponsor CHP Consulting.
Econocom revenue grows 55% in 2011
The France-based IT management business posted annual consolidated revenue of 1,580bn compared to 1,021bn in 2010, ahead of the companys stated target of 1.4bn. In a statement before publication of its full annual results on 7 March 2011, the company attributed the revenue growth to lively sales activity throughout the year and to the integration of ECS, the former Socit Gnrale subsidiary acquired in October 2010.
Star spangled future
While uncertainty may surround the election of Americas next Commander-in-chief, Grant Collinson discovers the countrys equipment leasing industry is more certain of its future. In 2012, the American public will go to the polls to elect their president and shape the political landscape for the next four years Mitt Romney and Newt Gingrich are head-to-head in the Republican primaries, with Romney taking Iowa and New Hampshire and Newt Gingrich having just grabbed South Carolina at the time of writing
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New associate members for Leaseurope
UK-based remarketing firm ERC Asset Solutions and Romanian leasing software company TotalSoft have become the latest to join Leaseuropes membership area for companies which have affinities or do business with the leasing industry but are not leasing companies themselves. Jukka Salonen, chairman of Leaseurope, said: With the addition of ERC Asset Solutions and TotalSoft, we are achieving one of the key objectives for the Federation which is to build a truly European platform for the communities we represent
NACFB’s 20 years championing the industry
The NACFB told Leasing Life it will continue to work with the Finance & Leasing Association (FLA) to champion the cause for brokers and asset finance, including the launch of the Asset Finance Directory. The two bodies have developed a website which lists all the funders and brokers in the UK in the asset finance market and is intended to help SMEs select a broker or funder to help finance their business
BVLRA optimistic about fleet in 2012
In a bid to dispel some of the economic gloom that has continued into the new year, BVRLA chief executive John Lewis has made some positive predictions for the UK industry with a Fleet Optimists Guide to 2012.
Stick to what you’re good at
Elmar Lukas, MD of equipment financing for GE Capital in EMEA, talks to Grant Collinson about past successes including the 2011 Leasing Life European Innovator of Year award and future plans for the finance division of industrial behemoth GE. The asset finance division of US industrial conglomerate GE, GE Capital Commercial Lending and Leasing, just posted a 75% increase in profit, earning $2.7bn (2.1bn) for the year.
Gearing up for the Games
While Britains politicians are hoping London 2012 will bring a much-needed economic boost to the UK, not to mention lifting dampened consumer sentiment, one industry already feeling the Olympic effect is the broadcast equipment leasing business This year is the Olympic bubble,” says Peter Savage over the phone from the German office of media leasing specialist Azule Finance