A GROWTH in personal leasing contracts has helped Hitachi Capital Vehicle Solutions post a £25.7m pre-tax profit for FY19/20, increasing annual growth by 4%.
The broker funder’s personal leasing book – marketed through brokers and dealers – grew by 20%, taking the fleet to over 26,000 vehicles.
Further growth came from a £136m contract signed with Network Rail in May 2019. This is to manage the company’s owned and leased road vehicle fleet.
Jon Lawes, managing director of Hitachi Capital Vehicle Solutions, commented:
Over the past 12 months, we have cemented our standing as one of the UK’s largest leasing companies and continued our growth trajectory. This is largely down to the fact that we are unique in the market. We are the only company that offers a total asset solution to organisations across all industry sectors. We fund, design, build and manage vehicles to any specification, and operate some of the most complex fleets anywhere in the UK.
The funder moved up to seventh in the FN50, further helped by a 137% increase in its electric vehicle fleet in the last 12 months.
The business has pledged to electrify 100% of its 62,500+ funded car and small van fleet and 50% of the funded van fleet by 2030.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
