Terex announces solid Q3 results

Pre-tax profit at US plant manufacturer Terex jumped by 92% in the third quarter of 2006, following strong performance for its Aerial Work Platfoms; Materials Processing & Mining; and Cranes divisions.

Profit climbed to over £84m from £43.7m in the same period last year, as turnover rose to more than £1bn, up from £792m.

Terex chairman and chief executive Ron DeFeo said the results were a "modest step forward in our journey to become an industry leading company," but he remarked that the company's construction arm was still not performing to expectation, lagging behind its target. He said that implementing change in the segment would "take several years to fully implement."