Avis Europe sees lower year profits

Newswire

LONDON, June 27 (Reuters) - Car rental company Avis Europe Plc said on Thursday it expected lower profits this year due to further weakness in the corporate sector towards the end of the second quarter, as company travel budgets were reined in. In a statement the firm said it now expected full-year profits in euros before tax, exceptional items and goodwill amortisation to drop by up to 15 percent against 2001 and did not expect a recovery in corporate volumes in the second half.

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