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Komatsu posted first quarter sales of JPY 607 billion (US$ 5.7 billion), a +12.2% increase on the same period in 2007. In line with improved sales, operating profit also increased by +4.5% on 2007 first quarter figures as the company benefited particularly from sales in emerging economies such as China, Indonesia and the Middle East. In the construction, mining and utility equipment sector, Komatsu reported a +6.4% increase in sales against the 2007 first quarter to JPY 534 billion (US$ 5.0 billion).
Gehl saw its sales for the first half of the year fall -33% compared to 2007 due to the sharp downturn in US residential construction. Operating profit for the compact equipment specialist was down -59% to US$ 10.1 million for the first half of the year.
Metso Minerals had sales of € 1,32 million in the first half of the year, a +11% increase on the first six months of 2007. The division's operating profit was up 12% to € 183 million.
Cemex’s results show a +29% net sales increase to US$ 6.3 billion in the second quarter of 2008 compared to the US$ 4.9 billion figure of the same period last year. Operating income increased by +12% as the company’s higher sales were attributed to the integration of Rinker as well as better supply-demand dynamics in most markets.
Terex posted sales of US$ 5.29 billion for the first six months of 2008 - a record, and a +21% increase on the same period in 2007. In line with these positive sales figures, operating profit also jumped +38% from US$ 288 million in first half results of 2007 to US$ 399 million for six months in 2008.
Euroconstruct has revised its forecast for construction output in Europe downwards this year. Whereas it previously expected modest growth, the group of economic forecasting companies now expects a fall in output. Chris Sleight reports.
Construction spending in China is expected to rise+ 9.2% per annum in real terms through 2012, according to the latest report by the Freedonia Group - Construction Outlook in China.
The latest report on the UK's plant hire market forecasts a market decline of around 4-5% during 2008-9, followed by a flat 2010 before some market recovery in 2011-12.
CNH's construction equipment sales rose +7.5% to US$ 2.61 million in the first half of the year, compared to the same period in 2007.
Volvo Construction Equipment's sales for the first half of the year were up +27% compared to the first six months of 2007, to SEK 31,9 billion (€ 3,37 billion). Operating profit for the period was € 2,93 billion (€ 310 million), a +25% improvement.
Caterpillar had its best second quarter ever this year, with sales up +20% to US$ 13.6 billion for April, May and June. It made a post-tax profit of US$ 1.11 billion for the quarter, a +34% increase on the same period in 2007.
Aggregates and road building equipment manufacturer Astec Industries had sales of US$ 541 million in the first half of the year, a +22% increase on the first half of 2007. Operating profit was up +14% to US$ 60 million.
Atlas Copco's Construction and Mining Technique division saw its sales rise to SEK 15,9 billion (€ 1,68 billion) in the first half of the year, a +40% increase on the first half of 2007. Operating profit was up +41% to SEK 2,88 billion (€ 303 million) for a record 18% operating margin.
Sandvik Mining and Construction saw its sales rise +13% in the first half of the year to SEK 18,1 billion (€ 1,92 billion), compared to the first six months of 2007. Operating profits were up +8% to SEK 2,56 billion (€ 270 million).
The value of Canadian building permits rose for the second month in succession in May as an increase in non-residential construction cancelled the fall in the residential sector, according to the latest survey by Statistics Canada, the country's national statistics agency.
Annual infrastructure spending in emerging markets (EM) - Africa, Middle East, Latin America, Eastern Europe and Asia - is expected to jump +80% over the next three years, according to financial management and advisory company Merrill Lynch.
Activity in Australia's construction industry has declined for a fourth consecutive month in June 2008, although the rate of decline was less marked than in the previous month, according to the latest Australian Industry Group - Housing Industry Association Performance of Construction Index (Australian PCI).
Saudi Arabia needs to invest more than SAR 680 billion (US$ 181.3 billion in its real estate sector to meet expected demand for housing by 2015, according to a report, by local investment bank NCB Capital.
Contracts in the Middle East worth US$ 2.2 billion have been won by Britain's second biggest builder, Carillion, according to an online news report.
Has the current financial market turmoil and construction decline shifted the outlook for rack and pinion access equipment around the world?