Manitou back in the black

Aaron Morby 11 years ago
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French telehandler and access equipment maker Manitou returned to profit in the first half of the year after a €14 m loss in the same period last year.

Turnover jumped 45% year-on-year to €562m in 2011, while net income was back in positive territory at €15m.

The results were driven by strong growth in all three equipment divisions.

Divisional Review

· The Rough Terrain Handling Division generated revenue of €397m up 45% compared with last year H1 despite suppliers constraints. But profitability flow-down was affected by price pressure, strong production ramp-up. Operating income reached €21m.

· The Industrial Material Handling Division posted revenue of €73.8m, up 24% compared with last year’s first half.

· Compact Equipment Division sales rebounded 68% to €90.6 m and achieved a margin of 17%.

Manitou is now forecasting full year growth of around 30%

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