It’s been a record-breaking year for Novuna Vehicle Solutions. It was named Leasing Company of the Year for 20,000-plus vehicles at this year’s Fleet News Awards, for the fourth consecutive year, and reported pre-tax profits almost three times those achieved in the previous financial year.

Part of Mitsubishi HC Capital UK, the leasing company generated pre-tax profits of £54.2 million in 2021/22, set against the backdrop of a decline in production driven by the semiconductor shortage.

Profit before tax in the previous financial year (2020/21) was £19.7m, compared with the £25.7m achieved in 2019/20, before the pandemic.