And 22% increase in profits

The family owned Claas Group has reported record sales and a substantial increase in profitability for its 2017/2018 financial year.

Overall sales rose 3.4% to a new record of 3.889 billion Euros = up from 3.761 billion Euros. This was boosted by increased revenue from its core markets including Germany, France and the United Kingdom.

On the back of this, profit before taxes rose 22.3% to 226 million Euros, up from 184 million Euros the year before.

Over the past 10 years, Claas say spending on research and development has doubled and reached a new record level of 233 million Euros, a rise of 7.3%. During the year, this resulted in the launch of the new Jaguar Terra Trac, the first forage harvester with integrated crawler tracks, plus the new generation Tucano including Montana hillside versions.

Considerable investment also continues to be made in fixed assets, rising 22.6% to 160 million Euro. This has included the modernisation of the main assembly line at the Claas tractor factory at Le Mans, the construction of a new high-bay warehouse at the world parts centre at Hamm, a new machinery test centre at Harsewinkel and the start of the redevelopment of the CUK headquarters at Saxham and the distribution centre for Claas France.

Hermann Lohbeck, speaker of the CLAAS Executive Board, said, "We have continued our growth in a volatile market environment and once again significantly improved our profitability. A strong impetus originated from Germany and Western Europe in particular."

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