Leasing firm reveals 150% surge in profit

ACADEMY Leasing is celebrating a year of impressive growth after announcing a 150% increase in pre-tax profit.

The firm, based at Lowton near Leigh, which provides invoice, vehicle and equipment  finance for businesses, announced a pre-tax profit of £1.6m for the financial year to March 2014, up from £656,000 in 2013.

In the same period Academy Leasing’s turnover rose 30% from £3.4m to £4.4m

The company was founded in 1987 and has 25 staff. It says its ability to give customers quick decisions is driving growth.

Managing director Mike Nolan said: “Our success over the past year bodes well for the future of the business, giving us greater ability to draw on our own book to finance deals for our clients.

“While bank lending to business remains restricted, we are able to help businesses expand and invest by leveraging relationships with major funders to secure the necessary finance. The growth of our own lending capacity puts us in a stronger position to fund a range of deals for a variety of different businesses.

“We pride ourselves on providing quick decisions and working with clients to ensure their long-term business plan is sustainable,” he added.