Japanese crane company Tadano has seen an increase in revenues and profits for the first time in three years, with a 20 per cent increase in net sales outside of Japan.
The company’s net income has increased from ¥9.3 billion ($122.6 million) to ¥11.4 billion ($150.2 million).
Net sales had increased by 8.5 per cent in the 12 months to 31 March, with mobile cranes increasing from ¥99,022 million ($1.3 billion) to ¥117,556 million ($1.5 billion). Truck loader cranes also saw an increase during this time, rising from ¥19,667 million ($259 million) to ¥20,667 million ($272 million).
- Tadano brings new models to the market
- Terex sells off boom truck company
- Tadano Oceania continues ITS focus on improving productivity, efficiency and safety
Sales grew by 37.3 per cent in North America, the highest recorded number by the company so far. The company also saw sales grow by 13.5 per cent in Europe, and 13.9 per cent in Asia, but fell by 36.5 per cent in the Middle East.
Tadano expects government investment in Japan to increase in FY 2019, with private investment to remain largely unchanged in the residential and non-residential sector.
The company has also announced July 2019 will be the closing date of its acquisition of Demag, announced in February. Tadano aims to meet customer demand through the addition of lattice-boom crawler cranes and more all-terrain cranes
An overall sales increase of 6.1 per cent is forecast by the company, which also expects an increase of 10.5 per cent to its operating income, not taking the Demag acquisition into account.