Deere prospers from strong US farm sector

20 May 1998

Deere prospers from strong US farm sector

A SOLID domestic farm economy has generated healthy profits for USA farm machinery maker John Deere.

Deere announced after-tax profits of $365.2 million for the second quarter on sales up 16% at $4.07bn. This brings total sales for the first six months to $6.92bn and profits for the first half up 15% year-on-year to $568m.

It forecast an increase of 10-12% in sales volume for 1998 overall.

• Financial Times 20/05/98 page 35