Deutz operating profit doubles

Cologne-based engine manufacturer Deutz has increased its operating profit by more than 50% in the first half of 2006 to £23m.

The firm's new orders rose to £556m over the same period, showing a 16% year-on-year improvement.

Deutz reported that the growth was driven by its Compact Engines division, where strong demand from the US and Europe drove new orders up by 21% to £435m.

Chairman of the management board of Deutz Gordon Riske was optimisitic about the firm's prospects for the rest of the year. He said: "We anticipate a continuation of the very favourable business development in the second half of the year."