Fleet News

Extra effort pays off for Fleetlease

A CONCERTED effort to improve margins, build personal leasing business and ensure accurate residual value forecasting has seen gross profits at Fleetlease increase by 3% to £4.2 million. Its parent company Hitachi Credit (UK)'s interim results until September 30 reveal that Fleetlease's volume of business reduced by 6% compared to the same period of 1998.

It its gross profit included a loss on disposals of £0.1 million, compared with a profit of £0.9 million a year ago. Managing director Rob Whalley said: 'We're pleased with the results, but acknowledge that the nature of the business has changed with less reliance on disposal profits which we've hitherto enjoyed.' He added that the firm has achieved a 237% increase in its personal leasing fleet to almost 800 units.

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