Sixt Profit Rises 9.3% on Car Rental Offices Abroad
Net income for Germany's largest car rental company increased to 24.8 million euros ($38.7 million), or 99 cents a share, from 22.7 million euros, or 91 cents, a year earlier.
Sixt AG, Germany's largest car-rental company, said first-quarter profit rose 9.3 percent, boosted by more branches outside its home market, Bloomberg reports.
Net income increased to 24.8 million euros ($38.7 million), or 99 cents a share, from 22.7 million euros, or 91 cents, a year earlier, the Pullach-based company recently said in a statement. Revenue rose 12 percent to 405.9 million euros, led by a 25 percent jump in sales from operations outside Germany.
Sixt opened offices in Spain and Belarus last year. With franchises, Sixt operated 1,743 rental stations as of March 31 in more than 85 markets.
Sixt rose 58 cents, or 1.8 percent, to 33.68 euros in German trading, giving the company a market value of 786 million euros.
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