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Play the Fantasy Share Trading Game. There is currently no data for Avis Europe. Pascal Bazin held the position of CEO at Avis Europe at the time of this trade. We have delivered another strong performance in the period as anticipated, achieving our best interim profit before tax since 2003, building on the management actions undertaken over the past three years.
We continued to experience demand recovery in all our main markets and improved both operating and pre-tax margins, together with a further increase in return on capital employed. Recent trading for the start of our key summer peak season has been strong, continuing the substantial volume growth achieved in the first half, and with some early signs of improvement in the rate per day trend. Avis Europe plc, a leading car rental company in Europe, Africa, the Middle East and Asia, announces unaudited interim results for the six months ended 30 June 2011. As anticipated, a strong underlying1 profit before tax first half performance, the highest since 2003, supported by the overall economic recovery and benefitting from both the substantial transformation that has been undertaken in the business, strict cost and capital control, and the drive for profitable growth.
Since the period end, shareholders have voted to accept the recommended offer made by Avis Budget Group, Inc. Rental revenue per day reduced by 5. Fleet costs improved on good gain on sale performance, lower maintenance costs on reduced age of fleet, and utilisation 1. Underlying1 return on capital employed3 further increased to 12. Underlying1 and total earnings per share at 4. 1 million relates to the offer from Avis Budget Group, Inc.