Speaking on the publication of details of MG’s FY11 performance Giroux, who is also the French construction, industry and agricultural machinery manufacturers chief executive, said: “We want to take advantage of all growth opportunities in a developing yet fragmented market and double our business over the next 3-4 year, to top by 35% the peak of our last cycle.
“We have a lot to work on but the path to success is clear and we are in full marching order.”
Further figures released by Manitou show its recurring EBITDA rose to $103.7million, which was 7.5% of revenue, compared to just $15.7million in 2010. Operating profit in 2011 was $69.6million, up from $2.6million the year before.
Manitou says it expects to achieve 10-15% revenue growth in 2012.
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