McMillan Shakespeare Group's asset management division, formerly Interleasing, yesterday reported a 19 per cent increase in assets under finance and a six per cent increase in net profit for the year to June.McMillan Shakespeare bought Interleasing, a vehicle and equipment finance company that was once part of General Motors' GMAC division, in April 2010. The business was in runoff when it was acquired but since then assets under finance have increased from A$214 million in 2010 to $220 million in 2011 and $262 million at June 30 this year.Net profit for the business was $14.3 million - up from $13.4 million in 2010/11. The company said profit increased by 21 per cent on a normalised basis, after adjusting for a provision write-back in 2010/11.Credit losses for the business were less than $40,000.The company said the asset management result was helped by a strong second-hand car market and consequent earnings from resale of fleet cars.McMillan Shakespeare's other business is remuneration services. Since acquiring Interleasing, the company has looked for cross-sell between the two divisions - offering asset management services to remuneration services customers using vehicle leases. The group's net profit was $54.5 million - up 25 per cent on the previous year. Return on equity was 38 per cent.