All articles by raymond doherty
US growth continues apace despite confidence dip
New business volume in US equipment leasing during May was $6.2bn (5bn), representing 11% year-on-year growth and a 1.6% increase from the previous month. The latest figures from the Equipment Leasing and Finance Association (ELFA) also show the economic activity for the $628bn equipment finance sector is up 16% year-to-date. Credit approvals increased to 78% in May from 76% in April and75% of participating organisations reported submitting more transactions for approval during May, down slightly from 76% in April.
Private & Commercial posts 67% profit rise
UK-based leasing and motor finance firm Private & Commercial Finance Group (PCFG) recorded a 67% increase in pre-tax for the year ended 31 March 2012. Profit before tax was £761,148, up from the £455,336 recorded for the previous year despite a 10% drop in turnover to £52m from £57.9m recorded in 2011
Azule tries to crack Irish market with Egg investment
Azule Finance, the UK-based broadcast and media asset finance broker, has announced its return to the Irish market, through a 51,000 investment deal with Dublin-based Egg Post Production. The companys first Irish deal since 2008 will finance an Avid ISIS 5000 media storage system to support the companys expansion and meet increased demand from its customers for file-based production. Gareth Young, from Egg Post Production, said: We were able to invest in the latest technology from Avid and increase the range of services we are able to provide for our clients including BBC, SKY, RTE, TV3 and TG4, as well as our feature film clients”
Lombard and ALD launch Lombard Vehicle Solutions
Lombard and ALD Automotive are set to launch a joint vehicle contract hire and fleet management service Lombard Vehicle Solutions (LVS) in July, The launch of LVS is part of the five year agreement announced in February following the decision by Lombards parent Royal Bank of Scotland (RBS) to wind down Lombard Vehicle Management (LVM) business. Through the deal ALD will provide services to existing LVM customers until the contracts to come to term and will sign new business under the LVS brand.