Limits on lease finance

FlexiRent, a niche funder of business equipment, reiterated at its annual meeting yesterday that it expected lease volumes will be flat over the next year, highlighting that lender caution is a constraint on credit availability.

The firm funds computers and related equipment purchased through retailers such as Harvey Norman.

John Delano, the firm's chief executive, repeated guidance of a net profit in the year to June 2010 of between $37 million and $39 million. FlexiRent reported an NPAT of $33.5 million in 2009.