MILAN: Italy's Fiat Industrial, the company based on auto giant Fiat's non-car business, said on Wednesday that net profit rose 45.6 percent in the third quarter to 297 million euros ($386 million).
The figure was in line with its expectations for 2012, it said.
Third-quarter revenues were up 7.9 percent to 6.3 billion euros, "with continued robust performance for the Agricultural Equipment business driving top-line growth," and compensating low demand for construction equipment.
Trading profit was up 18.8 percent compared to the third quarter in 2011, to 575 million euros, "with CNH achieving strong margin gains and Iveco and FPT Industrial maintaining margins substantially in line with prior year levels."
The company said it expected to close 2012 with revenues above 25 billion euros, trading profit over 2.0 billion euros, net profit around 0.9 billion euros and net industrial debt between 1.2 and 1.5 billion euros.
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