[Asia Economy Reporter Ki-min Lee] Doosan Bobcat's operating profit for the third quarter of this year recorded 111.2 billion KRW, an increase of 0.8% compared to the same period last year.
On the 30th, according to Doosan Bobcat, the company announced yesterday that its sales and operating profit for the third quarter of this year were 1.0849 trillion KRW and 111.2 billion KRW, respectively.
Third-quarter sales were 1.0849 trillion KRW, a 3.8% decrease compared to the third quarter of last year. However, net profit increased by 3.3% to 69 billion KRW.
Doosan Bobcat explained that the U.S. housing market, which had been sluggish due to the impact of COVID-19, has recently shown signs of recovery, bringing the company's performance back on track.
In the North American market, sales of GME (agriculture and landscaping small equipment) products such as compact tractors and mini track loaders performed well.
Doosan Bobcat expects demand to increase further as the U.S. housing market recovery strengthens, with housing starts and other housing indicators showing a 'V-shaped rebound.'
Sales in Europe, the Middle East, and Africa increased by 1.3% compared to the same period last year, despite delayed market recovery, due to strong sales of mini excavators, the company's main product.
As of the cumulative third quarter, the market share of mini excavators recorded 8.8%, an increase of 1.4 percentage points compared to the end of last year.
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