21.05.2004

Skyjack Revenues double

Skyjack parent company, Linmar has announced that “Exceptional sales from Skyjack” in the first quarter of 2004 has helped to boost group revenues by 16 percent to C$437 million ($318/£178 million). Skyjack sales for the quarter almost doubled to around C$60 million ($43/£24 million)

Linamar group net profit at C$20.2 million ($14.7/£8.2) was up by eight million Canadian dollars, a 63 percent increase on 2003, entirely due to a C$10.4 million ($7.6/£4.2 million) improvement in the operating profit of “other products”, largely Skyjack: from a loss of C$6.6 million ($4.8/2.7 million) in 2003 to a profit of C$3.8 million ($2.7/£1.5 million) in 2004.

Linamar attributed the $10.4 million swing to better market conditions and Skyjack's cost-cutting and new manufacturing strategy. Which includes a higher concentration on outsourcing, design, assembly, marketing, and distribution.

Skyjack also helped boost group sales to the USA fro the quarter from C$8.3 to C$29 million. Skyjack sales to Europe represented around 10 percent of revenues, which equates to approximately C$6million ($4.4/£2.5 million).

Vertikal Comment
If, as forecast, Skyjack maintain this first quarter performance, its 2004 revenues could easily top $150 million (£84 million). Placing it firmly ahead of UpRight as the world’s fourth largest producer of Self Propelled lifts and possibly making it the third largest producer of scissor lifts.