Manitou Group Sales Grow 12 Percent in 2007

February 7, 2008 • After three years of strong growth that saw sales increase by 65 percent, Manitou Group, Ancenis, France, continued to develop steadily in 2007. Sales came to $1.8 billion, up 12 percent year-on-year. This level of activity was achieved despite production and delivery delays arising from difficulties in sourcing certain components.

In 2007, access platforms increased 40 percent, to $127.5 million. Spare parts also increased 14 percent, and revenues generated by services increased 34 percent, to almost $45 million. Rough-terrain forklift trucks saw a sharp increase of 9 percent, to $1.2 billion, with sales to the construction sector holding up while sales to the agricultural sector accelerated.

 

2008 outlook

In a more uncertain economic environment likely to translate into weaker growth in Europe, the company plans to intensify its international presence in order to consolidate its position as a world leader in rough-terrain masted forklift-trucks and telescopic forklift-trucks. It also plans to renew and expand its product ranges and improve the sourcing of components to accompany the growth in business.

 

The company said in a statement that meeting its objectives would result in an increase in the Group's consolidated sales estimated at 10 percent and an equivalent increase in the results.