Sixt profit margin on the up
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Posted on: June 4th, 2008 by Martin Fellowes
According to a report on Bloomberg, Germany’s largest car hire agency, Sixt, reported a 9.3 percent rise in its first quarter profits compared to the same period last year, largely thanks to it’s branches opening outside the country. This meant that the company’s net income rose to 24.8 million euros, with shares selling at 99 cents each, up from 91 cents per share last year. Te 25 percent rise in non-German sales has put Sixt in contention to become one of the major players in Europe.
Karsten Odemann, chief financial officer of Sixt tsaid in an internview with Bloomberg that, “We slowly are nearing the saturation point in Germany with 531 stations. We will open more than 100 stations this year in Germany and elsewhere.”
A statement released by the company stated that “The managing board remains optimistic about financial year 2008 and expects a further year-on-year increase in consolidated operating revenue and consolidated profit.”
Quotes used with thanks to Bloomberg.com
www.sixt.com
