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.
February 14, 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.
Earthmoving & soil compaction Maintenance

For more information on companies in this article

Related Content

  • Record first quarter for CEMEX
    April 29, 2025
    A record first quarter result for CEMEX.
    Read More
  • Fiat Industrial achieves 6.2% revenues growth in 2012
    February 1, 2013
    Fiat Industrial achieved a 6.2% rise in revenues and trading profit in excess of US$2.71 billion (€2bn) during 2012 – an increase of 23.3% over 2011. Revenues in 2012 totalled €25.8 billion, as continued robust growth for agricultural equipment is said to have more than compensated for weaker trading conditions in other businesses. Trading profit was €2,079 million, up €393 million over 2011, with trading margin improving 1.2% to 8.1% on the back of what Fiat Industrial said was continued strong performance
    Read More
  • North American market fuels 15% rise in Volvo CE Q2 2012 sales
    July 31, 2012
    Volvo CE said strong sales, particularly in North America, helped the company record a 15% rise in equipment sales in Q2 of 2012 – bucking a worldwide reduction in the size of the global equipment sales market. The company’s operating income also rose in Q2 2012 to 35%, with operating margin up 13.3% on the same period of 2011. Volvo CE strengthened its market position in wheeled loader and excavator sales in China, taking a 14.7% share of the vital market.
    Read More
  • U.S made construction equipment exports rose 13% in 2012, AEM says
    February 27, 2013
    Exports of U.S.-made construction equipment were up 13% to US$26.7 billion in 2012 compared to 2011, according to the Association of Equipment Manufacturers (AEM) citing of U.S. Commerce Dept. data in global market reports for members. AEM noted that the 13% 2012 gain follows a 43% year-on-year growth in 2011, and 28% growth in 2010, after a deep recession decline of 38% in 2009. "Exports have been called a bright spot for the U.S. economy, and this has been especially true for construction equipment manufa
    Read More

Highlighted Content