Terex turnover soars 32% in Q2

Terex Corporation has reported a 32% increase in net sales to £956m for the second quarter of 2005, while operating profit rose to £44.3m from £33m for the same period in 2004.

For the six months ending 30 June 2005, the company said total sales reached £1.7bn, an increase of 35% over the first half of 2004.

All of Terex’s segments performed well in the quarter, with Terex Construction posting a 27% sales increase to £339m. This was attributed primarily to sales of heavy construction equipment businesses, including scrap handling and crushing and screening.

Colin Robertson, president of Terex Construction said: “The performance was very positive despite the relatively weak US dollar and steel cost pressures.”

He said the crushing and screening sector was most affected by increasing steel prices, but still managed to increase its operating profit by 15% for the quarter.

Net sales in the Terex Cranes Group increased £35.9m to £192m from £155.6m in the second quarter of 2004.

Steve Filipov, president of Terex Cranes said the figures reflected an improvement for all products, particularly tower crane sales in Europe.

Meanwhile, Terex Aerial Work Platforms, Terex Materials Processing & Mining, and Terex Roadbuilding all reported sales increases for the period.