Fleet News

Avis warns of earnings hit

Avis Europe has warned that second-half earnings will be hit following last year's fuel tax protests across the continent, particularly in the UK and France, resulting in lower activity and additional costs.

In a year end close season trading update, the Group said the level of growth in Germany was lower than expected, primarily as a result of lower demand in the replacement car market and the company said the contribution from its 3 Arrows subsidiary would be around £1.244 million less than expected because of ongoing uncertainty surrounding the restructuring of the credit hire industry.

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