The giant U.S. heavy vehicle manufacturer, Navistar, has reported improved financials heading into the new year.
The fiscal year and final quarter figures out of the U.S. show Navistar banked a fourth quarter net income of $135 million (USD).
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This was primarily on the back of a 26% lift in revenue in the quarter to $2.6 billion.
Across the fiscal year, Navistar, parent company of brands including International Trucks and IC Bus, ended with net income of $30 million, a much better result than the net loss of $97 million reported last year.
Driving much of the 6% jump in revenue growth was a 31% increase in Class 6-8 truck and bus sales in North America.
Navistar’s parts division also contributed to the improved results with a $157 million profit in the final quarter of the year.
“Our 2017 was a breakthrough year,” says Navistar chairman, president and CEO, Troy A. Clarke.
“We returned to profitability and grew our market share 1.5 points,”
“These results were driven by stronger sales, our steady investment in the industry’s newest product line-up, early results from our strategic alliance with Volkswagen Truck & Bus and our ongoing focus on cost.”
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