Manitou Group aims to double business over next 3-4 years

Manitou Group (MG) president Jean-Christophe Giroux says the Group will look to double its business in the next three to four years after revenue rose by 35% to US$1.13billion in 2011. Speaking on the publication of details of MG’s FY11 performance Giroux, who is also the French construction, industry and agricultural machinery
January 6, 2017 Read time: 1 min
2106 Manitou Group (MG) president Jean-Christophe Giroux says the Group will look to double its business in the next three to four years after revenue rose by 35% to US$1.13billion in 2011.

Speaking on the publication of details of MG’s FY11 performance Giroux, who is also the French construction, industry and agricultural machinery manufacturers chief executive, said: “We want to take advantage of all growth opportunities in a developing yet fragmented market and double our business over the next 3-4 year, to top by 35% the peak of our last cycle.

“We have a lot to work on but the path to success is clear and we are in full marching order.”
Further figures released by Manitou show its recurring EBITDA rose to $103.7million, which was 7.5% of revenue, compared to just $15.7million in 2010. Operating profit in 2011 was $69.6million, up from $2.6million the year before.

Manitou says it expects to achieve 10-15% revenue growth in 2012.

%$Linker: External 0 0 0 oLinkExternal <span style="line-height: 115%; font-size: 12pt">www.manitou-group.com</span> Manitou Group false http://www.manitou-group.com/ false false%>%$Linker: 2 Internal 2 4824 0 oLinkInternal <span class="oLinkInternal"><span class="oLinkInternal">View more videos</span></span> Video false /event-news/intermat-2012/video/ true false%>

For more information on companies in this article

Related Content

  • CNH is investing in a new construction equipment factory in Brazil
    March 7, 2012
    CNH is planning to build a new factory at Minais Gerais in Brazil in an investment worth some US$341.4 million (R$600 million). The factory will be located in Montes Claros, in the northern part of Minas Gerais.
    Read More
  • Welcome Xcentricity
    January 6, 2017
    Xcentric Ripper International claims its new XR 80 attachment for excavation and demolition is more productive than any hydraulic breaker in 85% of construction job applications. Being launched at INTERMAT 2012, the XR 80 is one of eight excavation and demolition attachments in the XR range. All are developed with Xcentric Ripper’s patented impact vibration accumulation technology.
    Read More
  • Welcome Xcentricity
    March 8, 2012
    Xcentric Ripper International claims its new XR 80 attachment for excavation and demolition is more productive than any hydraulic breaker in 85% of construction job applications. Being launched at INTERMAT 2012, the XR 80 is one of eight excavation and demolition attachments in the XR range. All are developed with Xcentric Ripper’s patented impact vibration accumulation technology.
    Read More
  • IJM backs out of deal to buy Malaysian road operator SILK
    November 25, 2014
    IJM, one of Malaysia’s largest construction conglomerates, has bailed out of a deal to buy the highways concession business SILK. SILK Holdings, owner of the subsidiary SILK, Sistem Lingkaran-Lebuhraya Kajang, and IJM agreed to end the US$118 million takeover deal that was announced in June, the Sun newspaper reported. SILK holds the concession for the 37km Kajang Traffic Dispersal Ring Road, also called the Silk Highway, until 2037. The road opened in 2004. IJM noted in June, in its filing of intention
    Read More

Highlighted Content