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September 23, 2013updated 12 Apr 2017 4:00pm

De Lage Landen reports 9% profit growth in H1

De Lage Landen (DLL) has reported net profit of €208m for the first half of 2013, a 9% year-on-year rise.

By Peter Johnstone

De Lage Landen (DLL) has reported net profit of €208m for the first half of 2013, a 9% year-on-year rise.

The Dutch lessor’s portfolio grew 2% in the first six months of 2013 to €31.3bn and reported business volumes of €10.6bn for the period.

DLL’s food and agriculture performed particularly well, with the portfolio now accounting for 37% of its total vendor finance business, and it reported a "higher end-of-lease income" for its car fleet. The company also said short-term commercial finance accounted for a greater volume of business than expected.

Frans Overdijk, chief financial officer for De Lage Landen, said: "Through strict cost control and the investments in a lean organisation we will further build on our agility and flexibility".

"We aim to offer stability to our customers worldwide by listening and thinking with them about long term solutions in their ever-changing industries."

Overdijk also said the opening of DLL operations in Turkey was "another important step" for the company, expanding its international scope "with precision at the local level".

Earlier this month the firm parted company with its chief executive Ronald Slaats over "a difference of opinion" on how to run the business.

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