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Komatsu doubles its pretax profits

PLANT

JAPANESE firm Komatsu has more than doubled its annual pre-tax profit as a result of the worldwide boom in demand for construction and mining equipment.

The manufacturer posted a profit of £297 million in the year to March 31, up 120 per cent on the previous year.Turnover rose 20 per cent to £7.2 billion.

Komatsu said it expected further 20 per cent rises for both profit and turnover in 2005.

A spokesman said: 'We expect demand for construction and mining equipment to continue to expand in North America and in almost every market in the world, helped by higher investments in mining projects and social infrastructure.'