Tractive Power profit up 502%

Tractive Power Holdings nearly trebled its sales from $7.2 billion to $21.8 billion though it says turnover was constrained by deferred capital investment and machinery repairs.

According to its results for the year ending August, operating profit was up 461 percent. It increased from $1.4 billion to nearly 8 billion.

Net profit increased by 502 percent from $774 million to $4.7 billion.

The company says it had improved margins and increased commissions on direct customer sales.

It had an improved order book in the new financial year but it says it is difficult to make any forecast because of the current macro-economic conditions.

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