21 January 1999
Caterpillar expects profit drop
MACHINERY company Caterpillar said it expected profits to drop in 1999 because of falling demand across all its main divisions, including agriculture.
The forecast came as the group reported an 11% increase in sales for 1998 to $21 billion (£12.7bn). Profits dipped to $1.5bn, from $1.7bn last time.
Caterpillar is the worlds largest maker of heavy earth-moving equipment.
- Caterpillar warns on fourth-quarter profits, FWi, 16 December, 1998
- Financial Times 21/01/99 page 28