Manitou third quarter revenues up 10 percent
| November 01, 2012 |
With €959 million ($1.2 billion) in revenue as of Oct. 1, the company reports that it expects to meet or exceed its forecasted fiscal year 2012 revenues of €1.25 billion ($1.6 billion). Should they meet the €1.25 billion goal, it would represent a 10 percent increase in revenues over 2011.
Despite the good news, Manitou expects 2013 revenue to flatten with two constrained half-years.
“Order intake remains very volatile from one week to the next, and from one country to the next,” said Manitou President and CEO Jean-Christophe Giroux. “Europe clearly slows down but US are quite strong with rental coming back.”
The Rough Terrain Handling (RTH) Division generated 1 percent revenue growth year-over-year, with a total of $242.2 million; the Industrial Material Handling (IMH) Division generated 23% revenue growth year-over-year, with a total of $48 million; and the Compact Equipment (CE) Division generated a 39% revenue growth year-over-year, with a total of nearly $81 million.
More From: Business
Do you want some tips to stay safe on the job site?
Equipment World has created an entire section devoted to safety.
Here are the most recent tips we've posted: