Fleet News

Avis falls

THE Iraq conflict and a weaker pricing environment have affected Avis Europe's results for 2003.

Revenue was down by 1.7% to €1,169.4 million and pre-tax profits before exceptional items, down from €122.3 million in 2002 to €59.4 million last year. The company has also announced that chairman Sir Bob Reid will retire in May. The board will propose to appoint deputy chairman Alun Cathcart as non-executive chairman.

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