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News » Plant » Hitachi sees sales soar » published 24 Aug 2017

Hitachi sees sales soar

Hitachi Construction Machinery (UK) reports string demand for its excavators in the past year, with turnover up 20% and profits rising by nearly 50%.

Hitachi clamshell telescopic excavator sold to Lynch Plant Hire Above: Hitachi clamshell telescopic excavator sold to Lynch Plant Hire

For the year ended 31st March 2017 Hitachi Construction Machinery (UK) reported turnover of £179m, up from £150m the previous year. Pre-tax profit reached £7.6m, up from £5.2m the year before.

However, profits were still well short of the £9.8m made in the year to March 2015, when turnover was £163m.

Chief executive John Jones described the year as “very exciting, with demand for construction equipment exceeding expectations”.

Writing in the company’s latest accounts, he said: “Increased demand for construction equipment across the UK has continued to defy market uncertainty surrounding the UK’s vote to leave the European Union and the migrant crisis affecting the European Union, with customer requirements high across all parts of the UK, especially the in the southeast region.”

Major deals during the year included a 41-unit excavator order from Thomas Plant Hire and a ZX350LC-5 CTA clamshell telescopic excavator sold to Lynch Plant Hire.

Hitachi Construction Machinery (UK) produces excavators and dump trucks at its factory in Hebburn, South Tyneside.

 

 

MPU

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This article was published on 24 Aug 2017 (last updated on 24 Aug 2017).

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