De Lage Landen (DLL) saw its first half net
profit rise by almost a quarter from last year, continuing an
18-month positive trend.
The Dutch asset finance company reported €190m
profit, a 23% improvement on the €154m reported in the first half
of 2011.
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The firm has also grown its portfolio to
€30.3bn, with new business volume in the six months to June
reaching €9.9bn.
DLL reported €304m profit in 2011, a 51%
year-on-year rise.
Ronald Slaats, De Lage Landen chief executive
attributed the Rabobank subsidiary’s portfolio first-half growth
mainly to its international vendor finance operations.
He said: “Especially in the area of food and
agriculture, but also in construction, transportation and
industrial goods, we have seen good results.”
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By GlobalDataSlaats highlighted business growth in the US
market and in Australia and said: “We continue to diversify across
our entire global network, with almost half of our business
activity conducted in countries outside of Europe.”
“Our global network continues to exhibit
tremendous value to both our vendor finance customers and their
clients, particularly in many of the emerging markets
Slaats also said the firm had kept risk costs
below the long term average which had helped it achieve growth.
