Record year at Palfinger

A 28% jump in turnover to €520 million (US$622 million) means a second consecutive record year for Austria-based Palfinger, according to preliminary results.

Growth was achieved through strong crane sales in Europe and the acquisition of tail lift manufacturer Ratcliff in the UK, which contributed to the year's second half performance.

Turnover rose by €116 million ($138 million) and EBIT increased by 56% to €65 million ($77 million).

The full results and forecast for 2006 will be published by Palfinger in mid-March.