VB Leasing's turnover down 60% in H1

VB Leasing, held by VB Leasing International, recorded a 52 percent decrease year-on-year in its net profit in the first half of 2009 and a 60 percent drop in turnover, due to a decrease in car sales on the Romanian market, declared the company's general manager, Peter Demmer, cited by NewsIn.

The value of financed goods stood at 34.5 million euros in the first six months of 2009. The turnover increased in the second quarter against the first one by 68 percent, from 12.9 million euros to 21.6 million euros.

At the end of June VB Leasing counted on 25,996 contracts and had recovered 739 goods. About 88.8 percent of the sales came from the financing of personal and utility vehicles and 9 percent were attributed to trucks and construction equipment.

The company expects the value of financed goods to reach 65.5 million euros at the end of the year, 90 percent up from the first hald. It also hopes to achieve 3,200 new contracts.

Last year VB Leasing recorded business of 160 million euros, 22 percent down from 2007, but increased its net profit 2.7 times, to 6.8 million euros.

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