Cendant Eyes 10%+ Cash-Flow Growth

NEW YORK— Cendant Corp. said it anticipates its cash flow to rise by 10% or more over the next two years, before the growth rate tapers off in 2004, according to a Reuters report. The corporation said it expects to report cash flow, or operating earnings after interest and tax payments are factored out, of $2.4 billion in 2002, $2.7 billion in 2003 and $2.9 billion in 2004, according to a company filing with the securities and exchange commission. Those projections follow reported cash flow of $1.5 billion in 2000 and $1.9 billion in 2001. Cendant expects to report free cash flow, or cash flow after tax refunds, one-time charges and working capital expenditures, of $1.9 billion in 2002, $2.2 billion in 2003 and $2.4 billion in 2004. Source: Reuters