The company, which now manages a fleet of in excess of 80,000 vehicles across Europe, signed new contracts in Germany, France, Belgium, the UK, Sweden and Finland to record its highest ever single month's results since it began trading 15 years ago.

The new business wins are with major international fleets, many of them household names and the largest of which operates over 2,500 cars, in a variety of industry sectors including telecommunications, FMCG (fast-moving consumer goods), electronics and pharmaceuticals.

Fleet Logistics CEO Peter Soliman said the results partially reflected the continued depressed economic circumstances in both the United States and Europe.

'We are continuing to see major international companies place a real emphasis on cost control in a number of areas of indirect spend, including their vehicle fleets.'

But, said Mr Soliman, the spate of new business wins also included 'a gratifying mix of existing clients adding fleets in new countries for us to manage'.

'This is especially pleasing for us as it underlines their confidence in us and in our ability to replicate the results we are already achieving for them in other countries.

'We also believe that we are seeing the rewards for our investment in technology, infrastructure and people as we believe we offer an unrivalled product offering across Europe.'

Another factor in Fleet Logistics' continued success, believes Mr Soliman, is the strength of its business relationships with major contract hire and leasing companies.

'We have very positive relationships with all major leasing companies built around the trust we have developed between us, and the fact that we do not unbundle the services they offer to their customers in the management process. This is a very strong differentiator for us,' he said.

Mr Soliman added that there were a number of other major opportunities in the pipeline.

'Our new business pipeline is looking very strong for the coming months and we fully expect this to be a record year for the business,' he said.