Avis Europe motors to a profit

Car rental firm Avis Europe posted its best first-half results in five years, swinging to a profit on new contract wins and cost controls, and signalled growth in markets in Asia and the Middle East. January to June underlying pre-tax profit was €0.3m (£0.2m) compared with a loss of €13.9m a year ago. Rental income rose 1.1 per cent to €539m, and net debt dropped to €786m at the end of June.