Slight profit rise for Caterpillar dealer

Finning International, the dealer for Caterpillar construction equipment, has today (Friday) reported record third quarterly results for 2003.

Revenues currently stand at £415m, a rise of 17% compared to the same period in 2002, while net profits for the quarter rose to £16.4m from £15.7m, as the company experienced continued growth in most of its business lines.

For the first nine months of the year, Finning's revenue has increased by 12% to a record £1.1bn, while profit increased 2.3% to stand at £46m.

Doug Whitehead president and chief executive of Finning International said: "We achieved record results reflecting the contribution from new acquisitions and strong performance in new and used equipment."