KCI Konecranes, which celebrated its 10th anniversary on April 15, showed a "clear improvement" in its latest quarterly report.

Orders have had double-digit growth for three consecutive quarters.

In standard lifting and special cranes, growth was attributed to R&D efforts that led to new products and growth in the Chinese market. The global industry was restructuring radically, according to the company's report, resulting in the loss of maintenance contracts. In 2003, the loss ratio was 16%, but new contracts grew 21%.

KCI's total quarterly sales were EUR152.2 million (USD182.9 million), up 1% on last year's result. Asia-Pacific now represents 22.1% of the company's total sales, almost doubling that of the first quarter last year.

Total orders received were EUR171 million (USD205.5 million), up 14.4%. Operating income was EUR2.5 million (USD3 million), a boost of 75.6% over 2003, and net income, at EUR1.3 million (USD1.6 million), eclipsed last year's first quarter by 114.9%.