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Aerial platforms star in record Terex profit

PLANT

TEREX has become the latest manufacturer to report record results, posting turnover of £1.13 billion in the quarter to June 30, up 18 per cent on the same per iod last year.

Net profit was also a record at £99 million, a 61 per cent rise year on year. This came despite some divisions actually falling in profit.

The star was again the aerial work platforms division, which posted a 48 per cent rise in turnover to £311 million and a 113 per cent leap in operating profit to £59.1 million.

But a package of scrap handler problems and delays with its German-built tracked excavators saw Terex Construction's turnover drop 5 per cent to £242 million and profit plunge 43 per cent to £9 million.

The firm also announced it would be selling its Tatra military trucks business to a USCzech investor group, less than three years after buying it. It no longer sees it as core business.