S.Africa's Avis cuts forecast as rand hurts


JOHANNESBURG, Oct 23 (Reuters) - Car rental group Avis Southern Africa Ltd said on Thursday a strong rand and pressure on margins knocked its half-year earnings and it revised downwards forecasts for full-year earnings growth. In the past few months, a slew of South African companies have lamented the negative effects of a strong rand, which has dented exports and hurt the value of their foreign earnings when reported in rand terms. The local currency has gained about 15 percent on a ...

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