| 22-04-2008
Through many years development in China, Ingersoll Rand had a solid close to the year and has continuing momentum as it enters 2008. Many of Ingersoll Rand's major end markets continued to experience solid demand as it closed out 2007, and orders increased by about 7% compared with last year.Ingersoll Rand’s backlog at year-end increased in all of its business segments and was up by more than 20% overall compared with year-end 2006. Based on recent order pattern and a review of customer and channel activity, Ingersoll Rand expects moderate growth in 2008. It expects slow growth in North America and Western Europe and continued brisk growth in the developing economies of Eastern Europe, Asia and Latin America. Consistent with this environment, it anticipates revenue growth of approximately 6% to 7% for 2008, with 2% related to currency. Operating margins are expected to increase by 1.0 to 1.5 percentage points in 2008 based on higher volumes, improved cost productivity and a somewhat lower level of material cost inflation relative to the past few years.
Ingersoll Rand also announces that it is projecting a 5% to 6% increase in total revenues for 2008, with a 6% increase in commercial equipment, and a 10% year-over-year improvement in commercial services. Total 2008 revenues are expected to approximate $7.9 billion and 2008 operating income is forecast to increase by 10% to 15% to $785 to $830 million.
Editor: Frederick Wei from Chinabuses.com
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