Deutz, Engines, Results--Engine demand indicates improving optimism

Amid a plethora of positive results released by the plant manufacturers, engine builder Deutz has seen second quarter orders increase by almost three quarters to £288.3m. Increasing production has not been as easy with second quarter engine sales growing by 40% compared to 2009, to stand at 41,781 units.

Not only are the latest figures a big increase on 2009 but the also confirm the upturn has gathered pace as sales for the first half have increased by an impressive but lower rate of 25% to 75,565 units. The company moved back into the black in Q1 with a profit of £580,600 and this has leapt to £10.4m in Q2.

This left the first half order intake 62.5% higher at £337m and revenue up by 21% at £444m resulting in a profit of more than £11m compared with a loss of £19.5m in the first six months of 2009.

"We are looking to the future with a great deal of optimism and can say that we have turned the corner," said Dr Helmut Leube, chairman of the Deutz board.

Source: Sed365.com