Motus Holdings warns of profit drop due to Covid-19
Automotive group Motus, which provides car rental through the Europcar and Tempest brands, has warned of an up to 80% fall in profits for its year to end-June.
The group, which is also a distributor and retailer of accessories and aftermarket parts for out-of-warranty vehicles, said headline earnings per share would fall between 70% and 80% in its year to end-June. “As the economy transitioned to level 3 lockdown with dealerships allowed to resume operations, early indications suggest an improvement in vehicle sales in June 2020 compared to May 2020,” the update reads.
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