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

  • Earthmoving machine sales improved
    April 2, 2019
    have increased since the second half of 2017. In particular, in Germany and France the main constraint is a shortage of labour, while in Spain or the United Kingdom the main brake is demand. Sustained dynamics for investments in Central Eastern Europe, with the exception of the construction market in Turkey, going decidedly against the trend compared to 2017. Overall, however, the implementation of EU funds during the 2014-2020 programming cycle has supported construction, particularly civil engineering.
    Read More
  • Dressta seek greater dealership reach in key emerging markets to boost sales
    October 10, 2013
    Dressta, the LiuGong subsidiary, is striving to increase its dealership reach in key emerging markets such as Central and South America as it aims for higher machine sales. Speaking at a recent Dressta construction machine manufacturing press event at the company’s LiuGong-owned manufacturing plant and headquarters in Stalowa Wola, southern Poland, Dressta CEO Leslaw Holysz said, “We have no [dealership] presence in Mexico and Latin America, except for Panama. Panama is a very good country for us and we
    Read More
  • Wacker Neuson posts strong 2023 revenue
    March 27, 2024
    Despite a difficult second half of the year, group revenue rose again by 17.9% to €2,654.9 million.
    Read More
  • Volvo CE is increasing margins despite weak sales
    July 24, 2013
    Volvo CE reports that its operating margin has recovered in the second quarter of 2013, although the firm has been hit by weaker sales, especially in the mining industry. This situation reflects the continued slowdown in the size of the total market for construction equipment and the company’s sales were down 19% during the period. However the firm said that behind the headline figures there were underlying positives, not least a good order intake and improving trends in China, Europe and the Middle East, a
    Read More

Highlighted Content