International fleet management company LeasePlan’s profits in the first half of 2014 were 18.2% above those recorded in the same period 2013, at 202.3m (£161.9m).
Commenting, LeasePlan chief executive officer and chairman of the Managing Board Vahid Daemi said: "In terms of performance, the vast majority of LeasePlan’s income streams across the vehicle value chain, continued to contribute positively to the net result in the first half of the year."
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The De Lage Landen subsidiary’s fleet grew slightly, from 1.37m cars at the end of 2013 to 1.38m cars at the end of the first half of 2014. The company said in a statement the growth was mainly attributable to emerging markets such as Mexico and Brazil, but also some Eastern European countries.
In the previous six months the company opened a new franchise in Canada, giving it a presence in 32 countries, and it said "One of the strategic priorities for the years to come is to develop new avenues for further worldwide growth."
Additionally, total head count rose from 6,518 at the end of June 2013 to 6,731 at the end of June 2014. In the same period, liquidity increased to a Common Equity Tier 1 ratio of 17.9%, up from 16.1%.
Looking ahead, LeasePlan said it believed its risk mitigation measures would continue to pay off in the second hand vehicle market and, despite continued uncertainty in much of Europe, LeasePlans largest market, the company expected to "achieve a positive result over the next six months 2014, although not necessarily at the same pace as the first half of the year."
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By GlobalDataCCO appointment
Daemi is to be joined on the Managing Board by Nick Salkeld, who will be appointed to the newly created role of chief commercial officer.
Salkeld, who is currently senior vice president of Southern Europe and the Pacific Region, will take on the new role from 21 August 2014.
He has been at LeasePlan for over 20 years, starting in UK Automotive Leasing business, before becoming commercial director for LeasePlan UK, and then managing director of LeasePlan International. In 2004 he became senior vice president for Northern Europe, before moving to Southern Europe and the pacific Region in 2006.
Commenting on the appointment, Daemi said "One of the company’s main strategic priorities for the years to come is to develop new avenues for additional growth. Nick’s role will be to lead this drive for our LeasePlan countries and our LeasePlan International business as well as to focus on delivering products and services that meet the changing needs of our clients."
Salkeld said "I am looking forward to working closely with my colleagues on the Board and all the LeasePlan team worldwide to further build our business both organically and through other market opportunities, and to continue our focus on delivering outstanding service to our clients."
Another senior vice-president is yet to be found for the Southern Europe and Pacific region, so until such a time, Salkeld will combine the responsibilities of the two roles.
