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SocGen's car-leasing arm ALD posts higher H1 profit
August 4, 2017 / 5:56 AM / 3 months ago

SocGen's car-leasing arm ALD posts higher H1 profit

PARIS, Aug 4 (Reuters) - ALD, the car-leasing arm of French bank Societe Generale, reported higher first-half profit on Friday and confirmed its 2017 financial targets.

ALD said its first-half net income had risen by 8.3 percent from last year to 287 million euros ($341 million), while the number of vehicles managed worldwide stood at 1.44 million as of the end of June - up 9.1 percent from June 2016.

ALD said for 2017, its total fleet was expected to grow around 8 percent from 2016, its gross operating income was seen up around 8 percent and its net income was expected to grow around 10 percent from last year.

SocGen listed shares in ALD in June at a debut market price of 14.30 euros, with ALD shares having closed at 15.25 euros on Aug. 3. ($1 = 0.8418 euros) (Reporting by Sudip Kar-Gupta; Editing by Gopakumar Warrier)

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