Tuff Bryant Group, the Australia-based heavy equipment company, said it expects net profit after tax for fiscal year 2009 to be between AU $19 million and $21 million (between U.S. $13.1 million and $14.4 million) compared to NPAT for fiscal year 2008’s AU $22.9 million.
Tuff Bryant said it expects a slowdown caused by a slowdown in sales caused by tightening credit facilities, particularly hurting equipment distribution’s sales, parts and service revenues. However, the company said, rental revenue has improved because customers prefer to rent rather than acquire equipment during the downturn.
Tuff Bryant delivered a 13.1 percent increase in net profit to AU $13.8 million (about U.S. $9.5 million) during the six months ended Sept. 30, 2008.
