Grenkeleasing reported a continuation in
strong earnings as net profits rose during the last quarter driven
by growth in its non German operations and insurance arm as well as
by disposals.
The Baden-Baden based micro-ticket lessor also
saw year-on-year growth of €200,000 in its net income.
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Post-tax profits totalled €5.8 million during
Q1 2010, €700,000 up on Q4 2009, although still well down on the
€7.2 million achieved during the first three months of last
year.
“We recorded clear growth in insurance
business in the first quarter of 2010. The steady rise in our share
of international business had an increasingly positive effect here,
as on average we have higher insurance ratios in countries outside
Germany,” the company said in a statement.
The company, which recently launched
businesses in Northern Ireland and Luxembourg, also attributed the
net profits rise from “disposals”.
On average Grenkeleasing’s deals are worth
€7,404, compared with €7,775 in 2008.
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