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Cat posts record rise

PLANT

CATERPILLAR has posted another set of record volumes in what chief executive Jim Owens described as 'spectacular' second quarter results.

Turnover for the quarter to June 30 was £5.71 billion, up 12 per cent on the same period last year, while operating profit rose 27 per cent to £560 million. But Mr Owens warned that demand was still causing extended delivery times.

Volvo Construction Equipment lifted second quarter operating profit 32 per cent to £91.5 million and turnover 15 per cent to £810 million.