Hitachi Construction Machinery last week reported sales for the fiscal year ended March 31, 2011, were JPY 774 billion (about U.S. $9.47 billion), up 27.7 percent. Operating profit more than doubled in the fiscal year from JPY 19.7 billion (U.S. $241.0 million) in fiscal 2010 to JPY 41.5 billion (U.S. $507.7 million) this year.
The company reported its biggest growth in sales in the fiscal year were to Russia and the CIS, where its revenue nearly doubled to JPY 65.1 billion (U.S. $796.4 million). The company also reported a 67.4-percent sales increase in the Americas, with total sales reaching JPY 62.4 billion (U.S. $763.4 million).
In China, the company’s strongest market, revenues totaled JPY 205 billion (U.S. $2.51 billion), and in Japan revenues grew just 0.6 percent reaching JPY 173 billion (U.S. $2.12 billion).
The company cited strong global demand for hydraulic excavators and replacement of aging rental fleet for its strong fiscal revenue figures.
Hitachi Construction Machinery produces products for the mining and construction industry.