Fleet News

No joy for Avis Europe

AVIS Europe has released a gloomy statement regarding its half-year performance, admitting the market conditions were still in the doldrums.

In view of difficult trading conditions the company will not be recommending a final dividend payment at the end of the calendar year.

In a statement, chief executive Murray Hennessy says: 'Our early planning assumptions for 2005 are that the current difficult conditions will continue. Whilst we will focus on yield opportunities where possible and expansion of business through lower cost distribution channels, we expect little upward movement in pricing and therefore continued downward pressure on margins.'

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