Skyjack's Q3 sales increase
By Lindsey Anderson19 November 2012
Canadian-based Skyjack has reported a strong third quarter result with sales increasing 14.2 percent, or C $12.7 million, from the same period of 2011. Skyjack makes up a significant portion of Linamar’s industrial division.
“The sales increase was primarily due to increases in demand in the access equipment markets resulting from fleet replacement initiatives,” the company said in a statement.
Operating earnings for the industrial segment were C $0.8 million, a 153.3 percent improvement from operating losses of C $1.5 million in 2011. The industrial operating earnings were partly driven by margin improvements on the increased volumes in the access equipment market, the company said.
"We are very pleased to see another strong quarter in Q3 in both sales and earnings growth," said Linamar CEO Linda Hasenfratz. "Earnings growth continues to outpace sales growth by a significant factor, leverage ratios continue to improve and we continue to see great improvements in ROCE and ROE. Our substantial launch book is driving great growth in the near term, and our competitive strength and an opportunistic market is helping us build for long term sustainable growth at Linamar."
Overall, Linamar saw sales increase 6.6 percent for the third quarter, reaching C $773.4 million.