AVIS SOUTHERN AFRICA LIMITED
London, 23 February - Avis Europe, licensor for Avis Southern Africa, has
reported a 20.9% increase in revenue to Euro 1.2 billion for the year to
December 2000. Pre-tax profits before exceptional items were up 3.6% at Euro
175 million.
Chairman Alun Cathcart said the company had achieved double-digit growth in all
customer segments and across all key markets in 2000. The operating margin had
remained strong at 19.8% but was slightly lower than in 1999 because of fleet
costs, an investment programme and the once-off impact of the fuel tax protests
in the UK and Europe. Against the background of expected slower GDP growth in
the European economies, Avis anticipated somewhat lower volumes in the year
ahead but a continuing favourable outlook for pricing.
Issued by du Plessis Associates on behalf of Avis Southern Africa, Limited.
dPA contact - Kathy du Plessis on Tel : (011) 728 4701, Fax : (011) 728 2547/8
or cell : (0)83 266-5847
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