2012 PRO AWARDS: Report and pictures of the glittering Industry Awards, incorporating Dealer of the Year Awards and Turf Pro Awards, held on the first evening of SALTEX
SALTEX 2012: Show review and new products on show at the leading turfcare exhibition
FEATURE: Compact Tractors: What's new in the compact tractor market
DEALER PROFILE: Winchester Garden Machinery, winner of the 2012 Garden Machinery Dealer of the Year Award
COURSE REVIEW: Sundridge Park Golf Club, a hidden gem seven miles from the centre of London
PRODUCT FEATURE: Wiedenmann launch a new line up of machines in Germany
B&S SALES DROP 20% IN Q1 Results are 'in line with expectations'
Briggs and Stratton sales in the first quarter of the current trading year dropped by 22.2% compared with last year, resulting in a consolidated net loss of $13.2 million.
Commenting, CEO Todd Teske said "Whilst our Q1 results are down on last year, they are in line with expectations. Unusually dry conditions in the United States and the continuing economic issues in Europe resulted in lower volumes compared to last year".
"As a result, we have reduced production levels in our manufacturing plants in order to manage inventory levels. The reduced sales in the lawn and garden market were only partially offset by the impact of generator shipments resulting from Hurricanes Isaac (he was speaking before the arrival this week of Hurricane Sandy).
"We continue to execute our restructing prograame announced last year which has resulted in saving of $9.8 million during the quarter. This included the sale of a dormant manufacturing facility in Jefferson, Wisconsin and a land parcel adjacent to our plant in the Czech Republic. We have also made progress in finalising our exit from manufacturing facilites at Newbern, Tenn and Ostrava in the Czech Republic"
"Overall we continue to be on track with our plan for the full year" he added.
Briggs and Stratton had previously announced that it would cease sales to lawn and garden products to national mass retailers, and has indicated that the impact of this is likely to be $100 million of reduced sales during the current year.
And in a recent development, Briggs & Stratton has announced the opening a new office in Kuala Lumpur, Malaysia to serve the south-east Asia market.
The 2013 Event Planner in a new, larger size, will once again contain dates of all the national and international industry shows and events. Published with the December issue of Turf Pro/Service Dealer TO ADVERTISE GEORGE MILLER E-mail or 020 3603 7936
