CNH Capital Europe Ltd, the captive arm of
agricultural and construction equipment manufacturer Case New
Holland, reported profit after tax up 11.8% to £4.24m (€5.13m), in
the year to 31 December 2009.
Non-consolidated results for the company, a
joint operation between BNP Paribas Lease Group (BPLG) and CNH
Global, show a rise in gross profit of 6.3% to £6.13m.
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The directors report said: “The company has
achieved satisfactory results in the year; has traded successfully
in its chosen markets; and is expected to continue to do so.”
CNH Capital Europe has been boosted this year
by the extension of its partnership with BPLG in March, which added
Belgium and the Netherlands to make seven countries covered by the
partnership’s vendor agreement. The company claimed that the move
has resulted in hundreds of financing and leasing applications
since the beginning of the year.
CNH is a subsidiary of Fiat, which ramped up
its own leasing activities in 2010. Its captive arm, FGA Capital,
took over the financing business of Chrysler, Jeep and Dodge in
Europe.
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