March 3, 2017 / 7:16 AM / 5 months ago

BRIEF-SocGen's car leasing unit ALD Automotive posts higher 2016 profit

1 Min Read

March 3 (Reuters) - Societe Generale car leasing unit ALD Automotive says in a statement:

* 2016 net income 511.7 million euros, up 21 percent

* Total 2016 income up 6.1 pct to 1.244 billion euros

* Says 2016 fleet growth of 14 percent with approximately 1.4 million vehicles managed worldwide.

* Group expects the following performance for the next three years: total fleet is expected to grow annually at approximately 8-10 pct, services margin and financial margin to grow annually at approximately 8–10pct, increasing their share of total income.

* Post tax return on average earning assets is targeted to be superior to 3.5 pct over the period 2017-2019

* dividend distribution is targeted in the 35 pct-40 pct range of the group share of net income for next three years Source text for Eikon: Further company coverage: (Reporting By Dominique Vidalon)

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