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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