Sany Heavy Industry is reporting record growth for its half-year results.
The Chinese crane, excavation and earthmoving giant recorded net profit of 3.4 billion yuan (US$494 million) for the first half year to June 30.
This is an increase of 192% over the same period last year,
It includes sales revenue of 28.1 billion yuan (US$4.1 billion), up 46.2% year-on-year.
The company’s cash flow for operating activities is 6.2 billion yuan (US$908 million), up 5.5% year-on-year which is the highest level in the company’s history.
The firm says the strong results are driven by growth in infrastructure construction.
This includes “growing demand for the renewal of equipment … the sales of the company’s excavating machinery, concreting machinery and hoisting machinery maintained rapid growth”, a company statement says.
First half sales revenue for excavator machinery alone totalled 11.2 billion yuan (US$1.7 billion), up 62% year-on-year and making it China’s domestic market leader.
Sales revenue of its concrete machinery was 8.5 billion yuan (US$1.2 billion), up 29% year-on-year and ranking as the top brand in the world.
Sales revenue of its hoisting machinery was 4.1 billion yuan (US$598 million), up 78% year-on-year.
Sany concrete equipment is supplied in New Zealand and Australia through Gough Group as part of an exclusive dealership agreement.
