Middle East major contributor to Komatsu sales
Komatsu says sales in the Middle East helped to offset falls in demand in previously strong markets.
Komatsu predicts its sales will increase by 44% this year.
Japanese manufacturer Komatsu says sales in the Middle East helped to offset falls in demand in previously strong markets.
Komatsu saw its net sales slacken globally falling by 3% to $4.6 billion year-on-year in the first quarter of 2013.
Profit, listed as operating income fell by 6% to $534 million in the same period. The company added in its trading statement that construction, mining and utility equipment net sales were down 3.1% to $4.2 billion, while industrial machinery net sales fell 6.3%t to $411 million. Despite the falls, Komatsu retains a largely positive outlook for the fiscal year ahead and expects its net sales to increase 9% to $21 billion iwith operating income improving by 44% to $3.1 billion.
While demand for construction and mining equipment in its major export markets of Indonesia and Latin America declined, expanded sales of construction equipment and parts in Japan and the Middle East largely compensated for those demand declines, Komatsu said.
