A Record Breaking Month and Q1 for Liberty
This May has marked Liberty Leasing’s strongest month in its history with new business levels topping £11m for the month. This record breaking month has contributed to Liberty’s strongest Q1 ever with NB levels of £19.2m, beating the previous best quarter in Q1 2016 by over £1m.
Alan Cooper, Finance Director commented:
“The previous monthly record was set in March 2018 with a total of £8.1m so this record has been exceeded by a significant amount with the average deal size of just over £100k in 2018. These are a superb set of results from Liberty for the first 5 months of 2018. It demonstrates the quality of Liberty’s dedicated and talented workforce, our excellent relationships with our customers, and the strong relationships that we have with our brokers.
We are also supported by our funders, who provide us with the capital to support this level of new business. We currently have debt facilities of £115m, within which there is £42m of headroom to support further levels of new business.”
To give some perspective, last month Liberty’s Chairman, Tony Captain was featured in the NACFB magazine and explained that Liberty started in 2001 with a modest £800,000. Although, there are many routes to success he also explained “it takes a lot to establish credibility in the asset finance industry, with block discounters and the involvement of brokers alongside finding the right calibre of people to employ.”
Allan Clegg, Managing Director concluded:
“This is clearly great news for the business and having been with Liberty for over 14 years, I am incredibly proud of what we’ve achieved to date. This record-breaking first quarter is testament to the hard work of all the teams involved in making this happen at Liberty and to the brokers that support us.”