Grenke, parent group of German independent
lessor Grenkeleasing, reported a 41% profit increase in 2011,
recording €39.3m for the year, and has set its sights on Brazilian
expansion.
The group’s consolidated net profit is up from
€27.8m reported in 2010 helped by a
23.7% increase in new business in 2011, recording €857.5m
compared to €693m in 2010.
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The results exceeded Grenke’s expectations for
€36-38m net profit forecast for the year and its target of 20%
growth.
Wolfgang Grenke, chief executive of
Grenkeleasing which makes up around 92% of Grenke Group’s business
volume, said the company was aiming for continued growth in 2012
with targets of around 15 % increase in new business and
consolidated net profit of between €41m to €44m.
“We are confident that the Grenke Group will
continue its strong development in future and that we will again
exceed our long-term target of growth of at least ten percent in
the new business volume.
“This will also be driven by our broad-based
international focus, which allows us to leverage opportunities in
the individual regions on a targeted basis. We are also looking and
planning beyond Europe, with intensive preparations underway for
our market entry in Brazil, the most populous country in South
America and the world’s sixth-largest economy,” added Grenke.
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By GlobalDatagrant.collinson@vrlfinancialnews.com
