LiuGong bullish

Chinese construction equipment manufacturer LiuGong Machinery announced first quarter earnings of US$93.35 million (¥612 million; ?66.03 million) from a net profit of $905.58 million (¥5.94billion; ?640.59 million) total sales revenue.
May 2, 2012 Read time: 1 min
Chinese construction equipment manufacturer 269 LiuGong Machinery announced first quarter earnings of US$93.35 million (¥612 million; €66.03 million) from a net profit of $905.58 million (¥5.94billion; €640.59 million) total sales revenue. This represents nearly a 72% increase in revenue from the same period the previous year. LiuGong said that total 2011 first quarter profits were $111.15 million (¥729 million; €78.63 million). Company performance outstripped first quarter 2010's reported figures by a huge margin. During the same time last year, LiuGong reported $507.02 million (¥3.46 billion; €377.91 million) in total sales revenue. Company Vice Chairman and President Zeng Guang'an said LiuGong's careful study and implementation of global best practices in management is paying off. Zeng said. "Growth worldwide continues because we put in place our support network for customer service, dealers and parts logistics before we enter a market. A LiuGong customer receives superior support and our machines have gained a reputation for value and extreme durability." LiuGong currently ranks within the top 20 largest construction machinery companies globally.

For more information on companies in this article

Related Content

  • Cummins posts strong results
    May 5, 2022
    Cummins has posted record quarterly revenues amid healthy off-highway engine demand
    Read More
  • Deutz sees Asian market as key to company success
    August 13, 2012
    Deutz is set to increase its presence in Asia in a bid to achieve greater overall company growth despite the ongoing tough global economic climate. The German diesel engine manufacturer says its plans to create a joint venture in China with Volvo are “making headway”. The firm also says its recently established joint venture with Shandong Changlin Machinery Group in Linyi, in the eastern Chinese province of Shandong, is “rapidly gaining momentum”.
    Read More
  • Strabag thinks positive despite drop in half year group revenue
    September 2, 2016
    Publicly listed construction company Strabag reports “a very positive development” in the first six months of 2016, despite lower group revenue. Consolidated group revenue fell back 8% to €5,312.15 million.
    Read More
  • US construction machinery exports gain 28%
    February 10, 2012
    The market for exports of US-made construction machinery closed out 2010 with a gain of more than 28% compared to the previous year, for a total of $16.4 billion dollars’ worth of equipment sold worldwide, according to the Association of Equipment Manufacturers (AEM).
    Read More

Highlighted Content