The motor finance businesses have operating assets of about £50 million and in the six-month period contributed an operating profit of £2.6 million (1999: £3 million).
Arriva says its dealerships will continue to offer hire purchase and lease products to customers financed by third parties. Meanwhile, the company operates a dealer network from 38 locations and runs a 9,000-strong car and LCV daily rental operation.
Arriva Daily Rental achieved an operating profit of £4.2 million in the first six months of this year compared with £3.7 million in the same period last year. Operational changes have resulted in improved fleet utilisation with turnover up to £37.9 million.
Motor retailing achieved an operating profit of £5 million on a turnover of £347 million. The operating profit decrease reflected the sale of the leasing business and the disposal of a number of dealership locations.