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APF show to smash records; Ransomes' Peter Driver to retire; Deere Q3 results; FGM to show new products
IN THIS ISSUE
APF EXHIBITION TO SMASH RECORDS
PETER DRIVER TO RETIRE FROM RANSOMES JACOBSEN
JOHN DEERE Q3 RESULTS
FGM TO SHOW NEW PRODUCTS
HANDY BOSS TO MAKE JET-SKI RETURN
BOMFORD TURNER ADD TO TEAM
BAUER MAKE NEW APPOINTMENT
MINISTER VISITS BLANEY MOTOR
T H WHITE WINS HOUSING GROUP TENDER
AND FINALLY . . .
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JOHN DEERE Q3 RESULTS
Sales forecast to be down 10% this year

JOHN DEERE has announced a further fall in nett income in Q3 ending 31 July (down 4% from $488.8 million against $511.6 million last year). For the first nine months of the year, net income $1.239 billion, representing a fall of 22 percent compared with the corresponding period last year.

Worldwide decreased 11 percent, to $6.724 billion in Q3 and declined 9 percent, to $20.124 billion, for nine months. Overall, equipment sales are forecast to fall by 10 per cent over the 12 months compared with last year.

"John Deere's performance in the third quarter reflected the continuing impact of the global farm recession as well as difficult conditions in construction equipment markets," said Samuel R. Allen, chairman and chief executive officer.

"All of Deere's businesses remained profitable with the Agriculture & Turf division reporting higher operating profit than last year. As in past quarters, our results benefited from the sound execution of our operating plans, the impact of a broad product portfolio, and our success keeping a tight rein on costs and assets.

"Deere continues to perform well in the face of challenging market conditions, particularly in relation to agricultural downturns of the past," Allen added. "This underscores the success of our efforts to develop a more durable business model and a wider range of revenue sources."


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