Higher equipment sales boost Finning
Caterpillar equipment dealer Finning UK saw sales grow by four per cent to £157.1 million in the three months to September.
The Cannock-headquartered business saw earnings before tax rise from £6m to £6.6m for the same period.
Growth was driven mainly by higher new equipment sales in the UK and Ireland and robust market activity, particularly in the power systems market in both the electric power generation and industrial sectors.
Product support sales were also higher than in the same quarter last year reflecting stronger parts sales primarily in the power system business.
New equipment revenue made up 65 per cent of total revenue.
Canadian parent Finning International saw sales rise 16 per cent to £928m with pre-tax earnings up 42 per cent to £61.7m.
President and chief executive Scott Thomson said: “I am pleased with continued improvement in our financial performance, supported by strengthening activity in our key markets."
Overall new equipment sales were up 25 per cent.
