Dollar Thrifty on a fourth quarterly high - Car Rental News
Dollar Thrifty on a fourth quarterly high
Car Rental News - 15/12/2009
Projected profits could be between $10-15 million
Car rental agencies are seeing a definite upswing this year. Dollar Thrifty Automotive Group, Inc have had a very positive fourth quarter and predictions for the coming Christmas/New Year season have been looking up. This is due to the fact that the demand for rental cars post-recession has shot up.
The car rental giant’s fourth quarter is expected to yield figures that lie anywhere in between $10 – 15 million. However this monetary value doesn’t include tax deductions and recurrent expenses. In comparison to last year, the company reported a loss of $43.4 million. The business has sustained itself very well in spite of the volatile economic climate.
The end of the year predictions for this company conjectures a very rosy picture. The forecast predicts that earnings for the complete year will be as high as $83-85 million. As compared to last year, the earnings had barely scrapped the $2.3 million mark. Various cost-cutting and finance control measure opted by the firm have proved to be highly efficient in riding the economic downturn.
The CEO and President of the firm, Scott Thompson, is very pleased at the result. He was all praises for the staff of the entire company and their suppliers who he all deemed were responsible for the profits amassed by the company. Dollar Thrifty Automotive Group, Inc is said to be in a very strong position right now and is following the right direction for a car rental company.