Nacco Industries Inc anticipates increased overall forklift shipments this quarter, compared to the fourth quarter of 2002.

"While global market prospects remain uncertain, lift truck markets in the Americas are anticipated ... to improve gradually," the holding company said. "Europe and Asia-Pacific are expected to remain relatively flat."

The firm's wholesale unit reported a USD1.6 million profit on sales of USD367.2 million for the third quarter, which ended September 30. That contrasts to profit of USD800,000 on sales of USD342.3 million for 2002's third quarter.

Nacco attributed the improvement, in part, to increased volumes and a consumer shift to higher-margin forklifts and parts.

Shipments increased to 16,163 units for the quarter, compared to 15,299 units last year. The worldwide backlog for the wholesale unit increased to 20,100 units at September 30 compared to 19,400 units at June 30 and 18,700 units at September 30, 2002.

Nacco's dealerships reported a USD1.0 million profit on sales of USD40.7 million for the quarter, compared to a USD1.6 million profit on sales of USD43.3 million in 2002. Nacco attributed the decline to the January sale of the retail unit's Americas operations. Favourable movements in Europe and Asia-Pacific partially offset the decline.

Nacco would continue its efforts to improve performance of wholly-owned dealerships through 2004 "as part of its objective to achieve and sustain at least break-even results", the company said.