American Deere increased quarterly profit by 49%

The net profit of the US engineering company Deere&Co in the second quarter, ended April 29, rose by 49.4% in annual terms to 1 billion 210 million dollars. Growth was facilitated by improved market conditions and increased sales of agricultural and construction equipment. Revenue increased by 29% to 10.7 billion dollars. Equipment sales reached 9.7 billion dollars, increased by 34.3%. Analysts had expected revenue of $9 billion 786 million dollars. The company expects by the end of the year to increase net sales and revenues by 26%, but expects an increase in expenses for raw materials and transportation.

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