Bauer has raised its full year revenues forecast by €100M (£90.6M) to €1.8bn (£1.63bn) following gains in both revenue and profit in the first half of this year, compared to the same period last year.
The company has reported a 21.1% increase in revenues to €916.4M (£830.6M) while profit has increased to 39.7% to €25.7M (£23.3M) for the first six months of 2017.
“The good start to the year has continued into the second quarter and we assume that the dynamics will last into the second half of the year,” said Bauer chairman of the management board Thomas Bauer. “That’s why we are raising our expectations regarding the total group revenues.”
The gains were spread across is business with all three divisions performing well. According to Bauer, good capacity utilisation and the ability to start new projects without delay led to a significant increase in revenues from its construction business. The equipment division also saw a rise in sales and successful delivery of large and specialist equipment during the first half of the year. Gains in the resources division were more modest and bolstered by its operations outside the ground engineering market which offset slower recovery in the materials market.