John Deere cautious on 2013

22 November 2012

Samuel Allen, CEO at John Deere

Samuel Allen, CEO at John Deere

US manufacturer John Deere forecast an +8% rise in full-year construction and forestry equipment revenues for 2013 – due in part to an expected modest improvement in US economic conditions.

The forecast came after the manufacturer reported revenues of US$ 6.4 billion from the division for the 12 months to 31 October, 2012, a jump of +19% compared to the same period in 2011. The construction and forestry division’s operating profit was also up +21% to US$ 476 million.

John Deere said the results were boosted by higher prices and volumes – factors which were partially offset by increased production costs, expenses and raw-material prices.

Commenting on the group outlook, chairman and CEO Samuel Allen said, "John Deere remains well-positioned to carry out its growth plans and capitalise on positive long-term trends, even though present global economic and fiscal concerns warrant continued caution.”

Latest News
10 management software systems for your rental company
Rental management software has evolved to meet the needs of every size and type of equipment rental company
Report reveals sustainability surge: 73% of contractors already implementing practices
Survey of approximately 13,000 construction professionals reveals what sectors are embracing sustainability
McGovern adds Liebherr MK 140-5.1 crane
UK crane rental specialist takes delivery of a new mobile folding construction crane from Liebherr GB