Construction equipment manufacturer CNH Global N.V. has announced that its third-quarter sales jumped 30 percent this year. Revenue from sales for the brand rose to $4.6 billion in the third quarter.
While the sales were up sharply, profits were ultimately up even higher for CNH. Increased demand for equipment coupled with improved prices meant that operating profit jumped 92 percent, to $460 million.
Agricultural equipment accounted for the majority of sales for CNH, comprising 77 percent of all units sold, with the remaining being construction equipment. However, the construction equipment sales improved more dramatically than the agricultural products - up 36 percent compared to 29 percent.
CNH is comprised of the Case, New Holland and Kobelco brands of construction and agricultural machinery. The company was originally based in the Netherlands but now has a strong presence in North America. In fact, 42 percent of the sales in the third quarter was in North America, with the rest of the world making up the remainder.
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