Gavin Wraith-Carter

Hitachi Capital Business Finance reports 23% asset portfolio growth

Hitachi Capital Business Finance has grown its total asset portfolio by 23% from last year to £1.3bn according to its annual results for FY18/19.

The specialist lender has recorded a 6.4% rise in pre-tax profit to £21.5m and a 600% increase in stocking new business volume, with a total of £210m paid out.

It has now funded £958m of total assets.

“In the last 12 months, we’ve diversified and strengthened our proposition within franchise financing, motor inventory and agriculture, which has led to major new funding contracts, including a major stocking deal with Pendragon PLC and exciting opportunities for our business,” said Gavin Wraith-Carter, managing director at Hitachi Capital Business Finance (pictured above).

Robert Gordon, CEO at Hitachi Capital (UK) PLC, added: “These outstanding results are the culmination of 10 years of sustainable growth, where Hitachi Capital (UK) PLC has consistently outperformed the average growth of many of the leading companies in the UK.

“Despite the challenging financial climate of the last year, we’ve continued to grow both profits and new business in our core UK market, while also expanding our footprint in Europe. 

“We now operate in 17 countries, writing over £300m of new business outside of the UK.”

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