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Last Updated: Friday, 3 March 2006, 11:10 GMT
'Difficult' year hits Avis profit
Avis worker
2005 proved a tricky year for the car rental company
Car hire group Avis Europe saw its underlying profits fall in 2005 but is confident its recovery plan will bear fruit during 2006.

Avis said profit before tax and exceptional items was 37.8m euros ($45.1m; 26m), compared with 52.1m euros the year before.

Sales rose 2% to 1.3bn euros and chief executive Murray Hennessy said 2005 was "difficult in terms of pricing".

However, Avis said that "overall" it was "pleased" with the figures.

Avis said last month that it plans to shed 200 jobs, shift others to its Barcelona and Budapest call centres and renegotiate or exit some non-fleet supplier contracts.




SEE ALSO:
Avis shares fall on recovery plan
16 Jun 05 |  Business
Avis shares hit by trading fears
16 Dec 04 |  Business
Avis shares drop as profits slide
07 Mar 06 |  Business
Shares slump in car hire firm
17 Apr 03 |  Business
Profits halve at car rental firm
27 Feb 04 |  Business


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