John Deere sales up 50%

Sales at John Deere’s construction and forestry division rose +50% year-on-year for the nine months to 30 June to US$ 3.8 billion, and the company expects this momentum to continue for the full year. John Deere said it expected its worldwide sales of construction and forestry equipment to increase +45% for full-year 2011.

“The increase reflects market conditions that are somewhat improved in relation to last year’s low level and increased activity outside of the US and Canada,” the company said, adding that construction equipment sales to independent rental companies were also seeing “significant growth”.

CEO Samuel Allen also highlighted concerns over the health of the global economy and recent turmoil in world financial markets, warning that these factors had introduced an additional element of uncertainty into the company’s near-term outlook.