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The car
rental agent, Sixt, has reported there third quarter
figures and they have improved again for year showing
that there is some hope for the rental car industry.
Despite the current economic climate both of the firm’s
sectors, Leasing Business Units and Vehicle Rentals,
have come up trumps and they have recorded an 8.6
per cent rise profits compared to the same time last
year.
The
profit before tax was standing at €28.1 million,
which is just two million short of lat year’s
figures but with a reduced fleet size. The firm has
said that this has been the trend throughout the nine
month period to 30th September. They attribute it
to a reduction in fleet and a restructuring of the
company in the early part of this year. Although the
revenue figure has dropped compared to the third quarter
in 2008, it has improved over the previous two quarters
by 13.3 per cent on the first quarter and 5.1 per
cent on second quarter results.
Erich
Sixt, the chairman of the managing board of Sixt,
said that the first nine months results show that
the car rental business is still working. The firm’s
increase in profit and revenue over the time period
in 2009 backs this up that businesses and the public
are again making use of the car rental market.
Almost
all of the rental firms around the world reduced their
fleets and restructured their companies in what they
were expecting to be a bad year. Like Sixt, most have
managed to come out on top with clever management
of finances and are looking forward to a good 2010.
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