Sales of construction and forestry machines of Deere & Company, declined again in the second quarter of the financial year extending from 1 November to 31 October. With a decline of 6% to US$1.574bn, turnover in the construction & forestry division recorded figures in the second quarter which, for the second time in succession, were below the level of the previous year. As early as the first quarter, Deere had been confronted by a 7% decline in turnover to US$1.302bn in connection with construction and forest machinery.
Accordingly, for the first half of the Deere financial year a decline in turnover is also recorded for construction and forestry machinery of 6% to US$2.876bn. As a consequence of the declines in the two quarters, Deere has again adapted its turnover forecast downwards for the construction & forestry division. Whereas in November 2012 a turnover increase of 8% was forecast, and even in February 3% growth for the entire 2012/13 financial year was still expected, the group is now expecting a 5% decline in turnover.
