International fleet management company LeasePlan recorded net profits of €246m in the first half 2015, up 21% year-on-year.

The company attributed the increase in profits to growth of the total fleet under its management and a continuation of the favourable market circumstances for well-maintained ex-lease vehicles.

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As LeasePlan conducts most of its business in euros, the depreciation of the European currency has positively affected its profits.

"As a result of the depreciation of the euro versus other currencies, net profit includes a €6 million positive impact of currency translation effects," wrote LeasePlan.

LeasePlan’s fleet grew by 8% year-on-year from 1.38m vehicles in the first six months of 2014 to 1.49 vehicles in H1 2015. The company’s assets expanded from €18.6bn to €20.5bn over the same period.

LeasePlan International (LPI), the entity managing the accounts of large international clients, surpassed the threshold of 400,000 vehicles under management, representing almost 30% of the total LeasePlan fleet.

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Vahid Daemi, chief executive office of LeasePlan: "In the first six months of 2015 LeasePlan has continued the upward trend witnessed in previous reporting periods. Thanks to an acceleration of global growth in our fleet, achieving a year-on-year increase of almost 8%, we have reached a new milestone of almost 1.5 million vehicles worldwide.

"This strong performance is the result of our investment in growing market segments such as SMEs as well as our commitment to meeting our customers’ mobility needs with new and innovative solutions such as flexible leasing and telematics. With the same level of drive and commitment that has been our hallmark for the last 52 years, we will continue our strategy of balanced growth, leveraging our global presence by investing in services that are designed to work in many markets around the world, to the benefit of our customers."

During the first half of the year, the company acquired full ownership of LeasePlan Turkey.

Last month, Volkswagen Aktiengesellschaft (VW) and Fleet Investments, owned by German banker Friedrich von Metzler, agreed to sell LeasePlan to a consortium of investors for €3.7bn.

The agreement is subject to approval by the relevant regulatory and anti-trust authorities including the European Central Bank in consultation with the Dutch Central Bank. Closing is expected by the end of 2015.