Paccar’s earnings slide

Source: Supply Chain Digital

Date :26/07/2007 11:58:49

Paccar, parent company of DAF Trucks, saw earning slide to £324 million for the first half of 2007 from £347 million last year.

Net sales and financial services revenues for the first six months of 2007 were £3.75 billion compared to £3.91 billion last year.

Mark Pigott, chairman and chief executive said: “The group had benefited from balanced global diversification and continued growth in aftermarket parts and financial services revenues.”

Aad Goudriaan, president of DAF Trucks said: “The European economy continues to experience robust growth. In the second quarter, business and consumer confidence reached six-year highs and unemployment fell to a ten-year low.

Industry truck sales in Western Europe above 15 tonnes are strong and could reach 265,000-280,000 compared to 268,000 in 2006. Our goal is to achieve over 20 percent market share.”

In June 2007, Paccar completed the acquisition of Truck Centre Hauser, a rental and leasing company in Germany which has a fleet of 3,500 trucks and trailers serving some 3,000 customers from ten sites locations located throughout Germany.

26 July 2007