Five Arrows Leasing Group (FALG) continued to grow last year
despite operating in “volatile times”, according to its managing
director.
Turnover grew last year by £2.2m to £29.5m, share capital and
reserves rose £2.5m to reach £44.5m, while profits before tax for
the past two years remained static at £7.4m.The portfolio across
its five businesses, which includes State Securities, the sub-prime
specialist lender, grew £12m to £190m.
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Its results have benefited from growth in its Specialist Fleet
Services arm, run by Bob Sweetland, which has opened additional
workshops to support its contract hire business. It also reports
that its deals with local authorities, its target market, are
increasingly for 10-year “partnership agreements” rather than five
year operating leases.
The UK’s burgeoning film industry, combined with an increase in
coverage of sporting events, has meant business at Fineline, which
finances broadcast equipment, has improved following a “tough
couple of years”, said Sam Geneen, managing director of the
Richmond based company.
LPM, which next year celebrates its 20th anniversary managing
finance companies and captives, predicts an upturn in 2008 as
clients increasingly turn to outsourcing of their back offices as a
cost-cutting measure.
Meanwhile, its Five Arrows Leasing arm, which supports companies
on long term contracts with the public sector, is picking up more
work from software houses, which is helping to drive business.
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