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

  • Doubling sales of construction machines
    March 16, 2012
    LiuGong Construction Machinery says doubling its North American-based equipment sales in 2011, compared to the previous 12 months, reinforces the company's goal of being among the world’s top ten equipment manufacturers by 2015.
    Read More
  • Doubling sales of construction machines
    April 17, 2012
    LiuGong Construction Machinery says doubling its North American-based equipment sales in 2011, compared to the previous 12 months, reinforces the company's goal of being among the world’s top ten equipment manufacturers by 2015. The China-based firm claims much of its sales growth is due to its expanding network of dealers and staff throughout the United States and Canada.
    Read More
  • Volvo CE ends 2023 with healthy sales
    January 29, 2024
    But despite increased orders in North and South America, overall global order intake remained low, declining by 26%, primarily caused by lower demand in China.
    Read More
  • Chinese construction equipment manufacturers increasing export focus
    December 2, 2013
    Chinese firms are growing their expertise in terms of products and international sales – Mike Woof reports China’s major off-highway construction equipment manufacturers have grown in a relatively short period and now number amongst the largest players in the sector. Some of the key firms are looking to boost exports and are providing tough competition, particularly in the emergent markets. Best known for its wheeled loaders, LiuGong has been developing its excavator range, with production of the E
    Read More

Highlighted Content