Terex’s profits continue to fall
Terex has announced a 54% fall in 2015 operating profit for its combined material handling and port solutions (MHPS) segment amid global economic volatility.
The business’s annual operating profit fell from US$58m in 2014 to US$27m last year, with operating profit in the fourth quarter of 2015 dropping by 43% year-on-year from US$33m to US$19m.
The MHPS segment, which includes Terex Port Solutions (TPS), recorded a 19% drop year-on-year in its 2015 net sales from US$1.8bn to US$1.4bn, on top of a 24% year-on-year fall in net sales in the fourth quarter of 2015, down from US$516m to US$390m.
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