Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Caterpillar falls short of market expectations

Earnings at plant giant Caterpillar increased by a third during the third quarter of 2005 but fell below market expectations.
The New York Stock Exchange-listed firm said operating profits rose to £377 million against £282 million at the same stage last year.

Turnover increased 17 per cent to £5 billion against £4.3 billion in the third quarter last year. Analysts had projected - on average - that revenue would reach £4.79 billion.

Shares in Caterpillar fell by 6.5 per cent on the news, closing down $1.40 to end at $54.03.

Caterpillar forecast a 20 per cent rise in sales for this year, and profit growth for 2006 was projected by the company at about 15 to 25 per cent above its revised 2005 outlook.

Contact the newsdesk