Bauer profits from best ever quarter

Germany’s Bauer Group recorded pre-tax profits for the third quarter of € 39 million, up +29% on the € 30 million reported in 2007. Sales in the quarter also rose by +19% from € 281 million in September 2007 to € 335 million this year, the company’s best ever quarterly result.

In the construction sector, a large number of major projects spread evenly across all regions of the world saw Bauer grow its business said a company statement. Meanwhile, the equipment sector is on course to set new records according to the statement.

“In view of the trend in our equipment business, Bauer has developed a large number of new machines for new markets, which are scheduled for launch over the coming year,” said a company spokesperson.

A company statement said that Bauer expects total Group revenues to increase by almost +20% to over € 1,4 billion by year end, up +16% on the € 1,2 billion reported for 2007.

“The market position and internal strength of the Bauer Group has been built up so successfully over the past years that, even if some of its markets were to undergo substantial change, we expect that the business as a whole would remain on an upward trend,” said Professor Thomas Bauer, Chairman on the Bauer Group management board.