FN50 leasing company Marshall Leasing’s profits have increased 40.9% to £2.5 million for the first six months of the year.
Marshall Motor Holdings reported in its stock market interim results that its leasing arm’s risk fleet grew 1.7% year-on-year to 5,897 vehicles on June 30.
This is slightly smaller than its fleet size at the end of last year when a number of disposals were deferred to take advantage of a stronger used car market in January and February this year.
The statement added: “The group is targeting a small increase in the size of the fleet for the year as a whole.
“The client base of the segment remains well diversified and balanced with no single customer representing more than 9% of the fleet and the top 10 customers accounting for 43% of the fleet.
“The strategy of the leasing segment continues to remain focused on recruiting and retaining clients through its service-driven offering rather than attempting to compete with larger competitors solely on pricing.
“The board believes that this model is capable of delivering steady and sustained growth moving forward as well as providing additional margin retention opportunities for the retail segment."
Marshall Leasing was 25th in 2014’s FN50 listing.