Latin America’s Localiza Reports Increase in 2Q Revenue

Localiza Rent a Car SA, Latin America's largest car-rental company, reported a 30 percent increase in car-rental revenue in the second quarter, compared to the year-ago period.

The car rental company's EBITDA grew 37.9 percent, consolidated net revenue increased 38.2 percent and net income jumped 112.2 percent.

"Localiza ... showing very solid figures across the board on a very strong number of rental days and good expansion of profit margin," wrote Credit Suisse AG in an e-mail to clients Tuesday.

In response to the second-quarter report, shares of Localiza jumped 2 percent to 22.97 reais Tuesday. The real (plural reais) is Brazil's currency.

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