July 31, 2012
Car rental company Hertz posted an improved quarterly profit as margins improved.
Net income rose to USD$92.9 million for the second quarter, from USD$55.0 million a year earlier.
Revenue rose 7 percent to USD$2.23 billion.
Strong demand from business and leisure travellers is boosting business at US hotels and airlines, in turn helping car rental companies.
Hertz, which is expected to make a bid for smaller rival Dollar Thrifty soon, said US car rental margins rose 210 basis points.
The company reaffirmed its 2012 adjusted earnings forecast of USD$1.28 to USD$1.38 per share on revenue of between USD$8.9 billion and USD$9.0 billion.
