Interleasing acquisition boosts McMillan Shakespeare's earnings 17 February 2011 5:54PM John Kavanagh Remuneration services group McMillan Shakespeare reported a full six months of earnings from its Interleasing division for the first time, according to its interim profit report, released on Tuesday. McMillan Shakespeare acquired Interleasing, a vehicle and equipment finance company that was once part of General Motors' GMAC operation, in April last year. The deal was worth $208.4 million.McMillan Shakespeare got an immediate return on the transaction. The purchase price was an 11.3 per cent discount to net assets and it booked a net gain of $17 million in its 2009/10 financial statement.In the December half, asset management (the new name for the division) contributed $82 million of revenue and a net profit of $6.6 million to the group.The asset management profit, combined with an improved performance from the remuneration services business, resulted in an 83 per cent increase in earnings over the previous corresponding period. Net profit rose from A$11.2 million, for the six months to December 2009, to A$20.5 million for the latest half.