largest independent IT finance provider, have increased for another
year in succession despite many leasing competitors either folding
or reporting flat revenue growth.
Net profits rose 35 per cent during Syscap’s financial year,
which ended on March 31, while revenues rose 20 per cent
year-on-year to total £162m.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The value of its assets under management also increased by 20
per cent during its last financial year, from £295m to £354m.
The company’s growth plans for 2008 include building its
international vendor finance business, which covers continental
Europe, the US as well as Britain. The company is also looking at
financing new asset types.
Syscap’s risk exposure is not significant because it leases to a
range of markets, including schools, higher and further education
facilities, the NHS, professions including lawyers and accountants,
and the private sector, said Philip White, CEO of Syscap.
Syscap is unlikely to raise extra funds and scale-up the
business by way of a flotation, although it has not ruled-out
buying new businesses and portfolios.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“We can still grow through acquisitions, and we continue to
pursue acquisitions,” said White. “This is an interesting time with
lessors considering their positions in the market, and there may be
opportunities that could help us to grow.”
Last year Syscap became the approved supplier to BarCo, which
supplies services to barristers, and was accredited as product and
services partner with the Institute of Chartered Accountants for
England and Wales.
White said that the withdrawal of HBOS and Kaupthing Singer
& Friedlander from UK public sector equipment leasing has
opened up the marketplace to Syscap, as well as other players in
this sector.
A full update on Syscap will appear in the next issue of
Leasing Life.
