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NetSol returns to strength

Asset finance software provider NetSol Technologies has reported net income of $1.7m (€1.3m) for the third quarter of its fiscal year, ending 31 March. The figure, although down 48% year-on-year from $3.3m, marks a return to strength after the firm reported a Q1 loss of $1.5m six months ago and a profit of just £320,000 in Q2.

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Asset finance is strong but for manufacturers cash is king

Asset finance is the most popular external financing product for UK manufacturers, according to a report into financing assets with the sector by EEF.

Australia office upgrade for WCG

White Clarke Group, technology provider to the automotive and asset finance sectors, is moving to larger offices in Miller Street, at the heart of North Sydney’s business district following the success of WCG products, such as the CALMS2 end-to-end business automation platform.

Aldermore appoints risk director

New UK bank Aldermore has appointed Malcolm Workman as risk director of its asset finance business.

Finance core to sales say IT vendors

More than half of IT vendors say that finance is core to their sales, according to research by IT finance provider Syscap.

UK asset finance above 2008 levels – FLA

Some UK asset finance markets are “writing more new business than they were before the collapse of Lehman Brothers in 2008”, according to the Finance & Leasing Association.

Used equipment leaves Europe as demand declines

Used construction and industrial equipment continues to leave Europe for emerging markets following the 1.4% decline in asset demand on the continent during the first quarter of 2012.

HMRC seizes more assets

HMRC is increasingly using its powers to seize businesses assets to recover unpaid VAT bills, according to figures published by independent finance provider Syscap. Last year, HMRC used its powers of distraint 2,401 times, seizing the assets of businesses who had failed to pay their VAT, a 161% increase on 2010 (921).

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