25.05.2004

Tadano turn the corner

Tadano the Japanese crane and aerial lift producer and parent of Tadano Faun has announced its first sales increase since 1999 and first positive year in profit terms since a marginal net profit in 2001.

Sales for the year ended March 31 2004 are provisionally reported at ¥96.64billion ($870/£478 million) an increase of 16 percent on 2003 and the highest level since 1999. Net profit rose strongly to ¥2.76bn ($24.8/£13.7 million) following losses in four of the five past years.

The company is forecasting a further improvement in 2004/5 with revenues expected to rise to ¥100billion ($900/£495 million) with net profits of ¥2.8billion. This still lags behind 1999, when Tadano revenues were ¥110bn ($990/£455 million), but in 1999 the company reported a loss rather than the projected profit.

Thanks partly to the exchange rate; Tadano is once again rivalling the crane divisions of Terex-Demag, Liebherr and Manitowoc in pure dollar terms, although the Tadano numbers do include aerial work platforms and digger derricks in addition to cranes.
We will provide further details once the annual report is published.