Newsletter #194 (View other news stories)
Caterpillar reports record profit up 85 per cent
PEORIA, IL, United States
Thursday, 3 Feb 2005
Caterpillar Inc has reported sales and revenues of USD30.25 billion, and a profit of USD2.03 billion for 2004, up 85 per cent from 2003.
Company chairman and chief executive officer Jim Owens said 2004 was "without question" one of the most remarkable years in the company’s history.
"We owe thanks for these record results to everyone who makes up Team Caterpillar – our employees, dealers and suppliers," Owens said.
Sales and revenues for 2004 were 33 per cent or USD7.49 billion higher than 2003.
The increase was due to higher machinery and engine sales of USD6.26 billion, the favourable impact of the strengthening Euro and British pound on USD515 million of sales, improved price realisation of USD512 million and higher financial products revenues of USD200 million.
Machinery and engines sale in Europe, Africa, the Middle East, the Commonwealth of Independent States and the Asia Pacific region are forecast to increase by 10 per cent, North America by 17 per cent and Latin America by 13 per cent this year.
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