UK asset finance company Liberty Leasing reported that the total amount of new business it wrote in Q1 equated to £18m (€22.8m). The company said that the result was above its target of £12m.

"February set an all-time record with £6.8m business written which is the best month ever since our inception back in 2001. Almost 200 deals were written in this time," the company wrote.

The average size of deal stood at £95,000.

Paul Sheedy, sales director at Liberty Leasing said: "The first quarter of this year has been fantastic for Liberty, helping to increase the book debt to £92 million at the end of March. The size of the book debt has enhanced Liberty’s ability to compete with the larger bank owned operations in the SME market, particularly when we are funding larger, competitive transactions.