Home / Finance / Equipment Lease Financing | BDO Leasing Profit Inches Up 1.6% In Q1
May 20, 2011 by ?
Filed under Finance
It revenues declined by 29% to P412.1 million from P583.6 million a year ago.
?This was primarily due to the decline in rental income of BDO Rental, Inc., a subsidiary of BDO Leasing,? it explained.
Expenses, however, fell by 34% to P320.6 million as it paid less occupany and equipment-related costs.
?This is attributable to the decline in the depreciation of leased assets of BDO Rental from several maturing accounts during the first quarter and corresponds with the decline in rental income.
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Its plans for the second quarter, BDO Leasing said, include ?extensive marketing? of its products.
Its leasing products include direct leases, sale-leaseback arrangements and operating leases. Financing products, meanwhile, include commercial and retail loans, installment paper purchase and factoring receivables.
Loans made by clients are used to finance their purchase of vehicles, office equipment, machinery, real property and financial assets such as receivables.
BDO Leasing shares closed at P1.65 apiece yesterday.
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Source: http://silvager.com/equipment-lease-financing-bdo-leasing-profit-inches-up-1-6-in-q1/
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