Krone’s Revenues Up 77% in Fiscal Year
Aug 23, 2011 1:58 PM
Krone, one of Europe’s largest trailer manufacturers, reported that preliminary numbers show that revenue for the fiscal year ending July 31 were $1.72 billion, a 77% increase over last fiscal year.
The Commercial Trailer division generated sales worth $1.1 billion, achieving the best result within the group. After experiencing a substantial drop in sales in the wake of the financial crisis, the division’s latest performance reflects an increase of nearly 150%.
“Admittedly, these numbers superficially look impressive,” said Managing Director Bernard Krone.” Yet, put in perspective, the current results of Commercial Trailers are just comparable with the division's 2006-2007 results.”
The Agricultural Machinery division anticipates a 24% growth in sales volume to $583 million, while Trade and Services business is up nearly 22%, passing the $144 million mark.
Krone attributed the growth to an innovative product line and customer loyalty.
The audited balance sheet will be available in Krone’s Annual Report 2010/2011 to be published within the next few weeks.
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