AWP major reports 10% increase in sales for H1, 2017, despite fall in net income
French powered access and aerial work platform specialist, Haulotte Group, has announced its half-yearly financial results for 2017, which show a 10% spike in revenue compared to the same period last year, despite a 35% fall in net income year-on-year.
According to Haulotte, the company’s total revenues were $317.7 million, an overall increase over the same period last year. This figure includes an 11% rise in equipment sales to $270.7m, and a 17% surge in rental to $17.8m. The company also saw services improve by a 2% margin to reach $29m.
Among its market divisions, Europe saw the highest growth with 19%, while the Asia-Pacific region was also a positive with 7% growth. Meanwhile, Haulotte’s North America market declined by 13%, which the company said was due to a fall in the scaffolding business in the US and a slowdown in Mexico.
According to Haulotte’s statement, operating profit without taking currency exchange rates into account saw a rise of 53% for the first six months of the year, reaching $20.89m. The company also reduced its net debt by $17.7m and said it has increased its full year revenue growth projection from 5% to around 10%.