News: Emeco looks to expand in Latin America

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Emeco Holdings Limited (ASX:EHL) is looking to boost its presence in Latin America and says it’s on track to deliver an operating net profit of between $40 million and $44 million for the 2013 financial year.

 

The earthmoving equipment supplier says earnings in the second half of the year will reflect challenging conditions in Australia and Indonesia as well as strong conditions in Chile and Canada.

 

The company says that following its successful entry into Chile, it’s considering expanding it operations in Latin America.

 

Emeco says the move is in line with its strategy to strengthen the business through geographic and commodity diversification.

 

The company says the Australian market has been very competitive, which has affected profit margins, and there has also been delays in the awarding of work.

 

Emeco Holdings reported a net profit of $22.5 million for the first half of the 2013 financial year.