Sixt Leasing has increased revenues by 7.4% to €353.4m (£305m) in the first half of 2016, according to its results.

The German lessor also saw consolidated earnings before taxes rise 18.2% year-n-year to €16.2m (£14m). Operating return on revenue increased to 7.7%.

Six Leasing grew its contract portfolio grew 1.8% to 105,220 contracts compared to the end of 2015. Operating revenues fell by 2.3% to €210.9m (£182.5m) compared to €215.9m (£186.8m) at the same point in 2015.

When adjusted to take into account lower fuel services due to price declines, operating revenues experienced a rise of 1.7%.

Total revenue for the leasing business unit rose 6.6% to €321.9m (£270.8m) for H12016, while operating revenue from leasing transactions decreased by 2% to €194.9m (£168.7m). The fleet management business unit generated 14.3% higher revenue in H12016, €40.5m (£35m).

Rudolf Rizzoli, chief executive officer of Sixt Leasing said: “Sixt Leasing followed up on its encouraging start to the year and recorded a good first six months.

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“For the Sixt Leasing Group the top priority for the second half of the year will be to continue on the track of qualitative growth, so that we can continue to improve profitability.”