Tadano Reports Sales Up 19 Percent
November 18, 2008 – Japan-based crane manufacturer Tadano recently release its second quarter financial results. The company reported sales of $905 million in its period from April 1 to Sept. 30, 2008, an increase of 19 percent over the same quarter 2007. Net income was up 40 percent.
In a statement, the company said that during the second quarter, the Japanese economy showed stronger signs of a slowdown amid growing concerns over economic stagnation as capital investment and personal consumption tailed off. Overseas, the deepening impact of the
Overall demand in for construction cranes maintained its momentum due to replacement needs in the domestic market, the company said. In overseas markets, energy-related demand remained robust in North America, while demand also increased in Europe and the
Domestic sales fell 7.2 percent compared with the same period of the previous fiscal year, despite an increase in sales of construction cranes, as declining demand caused decreases in sales of truck loader cranes and aerial platforms. Overseas sales rose 25.3 percent over the same period of the previous fiscal year due to an increase in the sales of construction cranes in the European and North American markets. As a result, total sales rose 7.4 percent. In addition, the ratio of overseas sales to total sales reached a record high of 52.6 percent.
In Tadano’s outlook for consolidated business performance for the fiscal year from April 1, 2008, to March 31, 2009, the company predicts a growth in sales of 2.1 percent, and drops in operating income and net income of 18.2 percent and 20.8 percent, respectively.
