Upbeat statement from Avis

Car rentals company Avis has issued an upbeat interim statement this morning, saying revenue was ahead in all customer groups and in all major markets excluding Spain for the first four months of the year.

The group saw an increase in rentals. The length of rental periods stayed the same as last year.

Avis said fleet costs were higher than anticipated, due in part to difficult used car market conditions in Spain and the UK, but said costs were being controlled.

Looking forward to the rest of the year, Avis said it forecast a better-than-expected increase in rental revenue, though overall fleet costs will be higher.