22 August 1997

Deere profit record

FIGURES released by Deere & Co reveal that its third-quarter worldwide net income amounted to a record $252.7m, a rise of 27% over the same period last year.

This brings net income for the first nine months of 1997 to $748.8m.

Company chief executive, Hans Becherer, says the higher profits resulted from strong worldwide retail demand for products, especially combines and tractors.

"The companys excellent financial results and the continued strong levels of demand for our products provide a solid base for future operations," he says. &#42