Increased sales feed through to profits for John Deere

John Deere's worldwide net sales and revenues have risen 20 per cent to $8.612bn for the fourth quarter and were up 23 per cent to $32.013bn for the full year.

Net sales of the equipment operations were $7.903bn for the quarter and $29.466bn for full-year 2011, compared with $6.564bn and $23.573bn for the corresponding periods last year.

Agriculture and turf division sales were up 18 per cent for the quarter and 21 per cent for the year due to higher shipment volumes.

Operating profit was $868m for the quarter and $3.447bn for the year, compared with $662m and $2.790bn in 2010.

Sales in the EU nations are forecast to be flat for 2012 "as a result of general economic concerns in the region".

Meanwhile, John Deere is withdrawing from the turf irrigation business that has been developed over the past six years with US manufacturer Signature Control Systems. Signature will now sell products through its own distribution network.

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