The Bauer Group has continued to grow in the third quarter of 2017, with key figures well above those of last year.
The company reported a total group revenue increase of 22% to €1.4bn (£1.2bn), compared to the £1.02bn reported in the third quarter of 2016. Sales revenue also increased by 27.5% to £1.13bn.
Trading across three areas - construction, equipment and resources – the German-based firm operates in more than 110 subsidiaries in 70 countries around the world.
The three areas have developed differently over the course of the year, reported the company, highlighting that construction and resources remained behind expectations with their earnings. However, the equipment sector demonstrated a significant increase due to more equipment being sold this year than in the previous year, and the sales of large machinery and specialist equipment increasing.
The company, which raised its annual forecast back in August, is predicting 2017’s total group revenues to be around £1.6bn, and earnings after tax of between £20.6M to £25M.
Total 2017 earnings before tax and interest (EBIT) are predicted to be around £67.1M.
“We are seeing an overall positive trend in our business operations,” said Bauer chairman of the management board Thomas Bauer.
“The construction segment is showing continued stable growth worldwide and the demand for complex specialist foundation engineering projects will continue to grow due to the continuing urbanisation and the rising complexity of infrastructures” he added.