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Hertz trims first quarter losses as revenues grow

Hertz trimmed losses in the first quarter of the year as revenues grew.

The car hire giant reported pre-tax losses of $231 million for the three months to March 31 against $294 million in the same period last year.

This came as revenues increased by 8% to $2.1 billion.

Hertz president and CEO Kathryn Marinello said: “We entered 2018 a stronger company than one-year ago with positive underlying revenue momentum as our strategies to enhance fleet, customer service and brand value are gaining traction.

“At the same time, we have fortified our leadership team and are managing our assets more effectively. The early progress is motivating for our employees and being recognised by our customers.

“But we still have work to do, reflecting the significant opportunities in front of us, as we position our business for sustainable, long-term growth.”

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