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Profit rise propels Grenke towards Brazil

Profit rise propels Grenke towards Brazil

Grenke, parent group of German independent lessor Grenkeleasing, reported a 41% profit increase in 2011, recording €39.3m for the year and has set its sights on Brazilian expansion. The group’s consolidated net profit is up from €27.8m reported in 2010 helped by a 23.7% increase in new business in 2011, recording €857.5m compared to €693m in 2010.Free

CIT posts profit in Q4 but still down on 2010

CIT posts profit in Q4 but still down on 2010

A rise in new business volumes and a return to profitability has compensated for reduced earnings last year at US-bank CIT Group. Full year 2011 profit was $28m, down from $526m in 2010 reflecting a sharp decline in net fresh start accounting (FSA) accretion benefit and increased costs related to debt redemptions, according to CIT’s annual results statement.Free

LeasePlan posts 13% profit growth in 2011

LeasePlan posts 13% profit growth in 2011

European fleet giant and the twelfth-largest leasing company in Europe, LeasePlan recorded a 13% jump in profit in 2011 to €225m. The Netherlands-based firm increased profit from the €199m recorded in 2010, according to its preliminary annual report.Free

Econocom revenue grows 55% in 2011

Econocom revenue grows 55% in 2011

European IT and telecoms funder Econocom has exceeded expectations with a 55% increase in revenue in 2011. The France-based IT management business posted annual consolidated revenue of €1,580bn compared to €1,021bn in 2010, ahead of the company’s stated target of €1.4bn.Free

Confidence key to getting UK back on track

Confidence key to getting UK back on track

The Hilton-Baird Financial Solutions’ latest biannual SME Trends Index reveals that only 31% of respondents believed their business would expand over the next six months.

Country snapshot: Spain

Country snapshot: Spain

Leasing Life has been delving into the European Union Eurostat database to discover some of the key macroeconomic and political indicators for different EU members. this month - Spain.

Fleet managers reluctant to go green

Fleet managers reluctant to go green

More than half of UK fleet managers have not set any green targets for their fleet, according to research from multi-marque fleet lessor Alphabet.

GE Capital doubles profit in 2011

GE Capital doubles profit in 2011

GE Capital, the finance arm of US industrial conglomerate GE, has posted a $6.5bn (€4.9bn) profit for 2011 – up some 107% from 2010. GE Capital Commercial Lending and Leasing (CLL), the segment which includes global equipment finance operations, posted $2.7bn in profits for the 12 months to 31 December 2011, representing a 75% increase on the figure for 2010.Free

Profit at Siemens FS bucks downward trend

Profit at Siemens FS bucks downward trend

Siemens first quarter results for 2012 showed disappointing losses across the board, with the notable exception of its leasing division Siemens Financial Services (SFS). The electronics and electrical engineering company recorded a significant loss in pre-tax profit, down to €1.8bn in the first three months of fiscal 2012.Free

Growth confidence is deceptive in US leasing

Growth confidence is deceptive in US leasing

The US equipment finance industry had increased confidence for January 2012, although many lenders reported that growth in the sector was not indicative of the industry as a whole. Leasing body the Equipment Leasing and Finance Association (ELFA) released their January 2012 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), which found that confidence in the equipment finance market is 59.0, an increase from the December index of 57.2.Free


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