The ongoing takeover speculation is not hurting the balance sheet at Dollar Thrifty.

The group has reported a higher than forecasted quarterly profit, with further growth anticipated for the second half of the year.

As the subject of the high-profile bidding war between Hertz and Avis, Dollar Thrifty has enjoyed the attention to turnaround a first half fall of two per cent into a forecasted rise of four to five per cent for the overall year. Excluding merger-related expenses, Dollar Thrifty expects its adjusted EBITDA to meet the recently raised forecast figure of USD$220 million.

CEO Scott Thompson said that the company had experienced profitable revenue growth since first entering the spotlight under the takeover move, adding that sales of used vehicles had also helped the rental outfit to boost its capital. The first half of 2010 saw Dollar Thrifty refresh much of its fleet, with the sale of ex-fleet cars a by-product. However, gains generated from the sale of used vehicles will likely decline over the coming months according to Thompson.

Second quarter earnings for Dollar Thrifty were $42.3 million, equivalent to $1.40 per share, a significant increase from a year ago when earnings were just $12.4 million, or 55 cents per  share. Dollar Thrifty shares have experienced a 31 per cent rise since Hertz’s initial $1.2 billion offer back in April.