Business

Fiat profits jump on truck and construction sales

Fiat digger
Image caption Fiat has scooped up booming demand for construction equipment in Latin America and Asia

Italian industrial group Fiat has reported a big jump in profits as sales of farm and construction equipment, as well as trucks, grew sharply.

The company made a profit of 239m euros ($344m; £210m) in the second quarter, up 84% on a year earlier. Revenue grew 11% to 6.28bn euros.

Following the better-than-expected results, the firm also raised its revenue forecast for the full year.

Fiat split its car and industrial businesses at the start of this year.

"We are quite optimistic about our business," said Fiat chairman Sergio Marchionne.

"We are going to revisit these numbers at the end of the third quarter to see if we are going to upgrade them."

Fiat Industrial operates a number of units, including Case New Holland, which makes agricultural and construction equipment, Iveco trucks and commercial vehicles, and Fiat Powertrain Technologies.

Fiat Industrial shares rose 5.4% in Milan following the results.

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