UK car rental firm Avis to cut H1 dividend

Newswire

LONDON, June 25 (Reuters) - Europe's biggest car rental firm Avis Europe Plc edged up its full-year revenue forecasts on Wednesday, saying it had seen a recovery in business since the Iraq war, but added it would cut its first-half dividend. The firm said it now expected full-year revenues to fall four to seven percent compared with its previous assumption of a five to 10 percent decline. It expected to pay an interim dividend of 1.3 pence per share, compared with two pence last year.

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