Fleet News

Lex profits up

LEX Vehicle Leasing has announced a 19% increase in profits for the first half of the year to more than £21 million, up from £17.9 million from the same period last year.

Its fleet of vehicles has grown from 91,800 in June 2002 to 99,600 this year and the company says this growth is a result of improved customer retention and increased new business.

The company adds that increased efficiency has led to strong cost control, further enhancing its financial position.

Managing director Jon Walden said: '2003 is the year when we are really beginning to harvest all the investment we have made in recent years in people, processes and systems. We are well positioned for the future. We have great people, great systems and the right customer offer with a long-term reputation to match.'

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