NMHG Wholesale has reported revenues increased by 27 per cent in the first quarter for fiscal year of 2005, compared to first quarter of fiscal year 2004.

The increase was due to increased unit volumes, mainly in the Americas, a shift towards higher-priced forklifts in all markets, the effect of price increases implemented in 2004, increased parts volumes and the strengthening of the British pound sterling and Euro versus the US dollar.

Forklift shipments increased to 19,909 units in the first quarter, compared to 17,624 units for the 2004 quarter.

NMHG Wholesale's worldwide backlog increased to 27,500 units at March 31, 2005, compared with 24,500 units at March 31, 2004, and 25,700 units at December 31, 2004.

The company expects stronger forklift markets in 2005 in the Americas and Asia-Pacific and relatively flat forklift markets in Europe, compared with prior periods.

The company said in its financial report that it continued to monitor changes in material costs and evaluate the need for future price increases.

It is actively analysing moving components sourcing from British pound sterling and Euro areas into US dollar and low-cost areas on the assumption the currencies are likely to stay at levels disadvantageous to the company's current sourcing pattern.