Tat Hong Holdings, the world’s top crane company, today reported a 78% jump in net profit for the second quarter ended 30 September 2011 (2QFY2012) to $12.6 million from $7.1 million a year ago (2QFY2011).
The increase came on the back of a 26% rise in revenue to $183.3 million from $145.6 million across all business divisions.
Revenue generated by the Distribution division in 2QFY2012 grew 38% to $89.1 million, due to improved sales of excavators to the Indonesian market from strong demand in the logging and plantation industries, and higher sales in Australia.
The Crane Rental division generated marginally higher revenue of $53.5 million when compared with 2QFY2011.
The General Equipment Rental division turned in the largest percentile increase in revenue growth of 77% to $26 million.
Revenue for Tower Crane Rental increased by 7% to $14.8 million when compared with the previous corresponding quarter helped by an expanded fleet size to meet growing demand.
Gross profit increased 26% to $67.9 million from $53.9 million in the latest quarter. Gross profit margin remained at a respectable 37.1%.
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