25.07.2005

Bobcat up 25%

Skid steer, telehandler and mini excavator producer Bobcat saw revenues continue to rise in the first half of 2005, gaining 25 percent on the same period in 2004.

The Compact Vehicle Technologies sector of parent group Ingersoll Rand, which includes Bobcat as well as Club Car golf cars and utility vehicles, saw total revenues increase by 25 percent to $1,387 million compared to $1,110 million in the first half of 2004 .

Operating income was $226 million up 31 percent from $172 last year. Bobcat margins declined slightly as higher material costs and manufacturing inefficiencies related to material availability offset volume gains.

Margins for the sector in the second quarter were 16.1% compared to 16.3% last year.

Overall revenues for the Ingersoll Rand group were $5,218 million for the six months up 14 percent from $4,567 million, with profit before tax for the period of $619 an increase of 35 percent.