Fleet News

FN50 reports mixed picture on profits despite record-breaking year

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The country’s top 50 vehicle leasing companies collectively reported a record-breaking year, according to the latest available figures.

However, while some saw year-on-year profits rise, others recorded a reduction, blaming a challenging used car market.

The country’s biggest leasing company – Lex Autolease – saw revenues rise 7.3%, while profits fell by 13%. Due to its size, its figures dwarf those achieved by most FN50 leasing companies.

It reported revenues of £2.17 billion, up from £2.02bn in 2016, but pre-tax profits for the leasing giant fell £28 million, from £204m to £176m, in 2017.

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