Cummins announced its financial report for the first half of 2014. The company's business growth in the first half of the year was strong in North America and China , and its operating income, operating profit, and net profit all increased.
In the second quarter of 2014, the growth of Cummins' North American regional and Chinese market business made up for the company's declining business in other regions. At the same time, the company’s overall operating income increased 7.0% year-on-year to US$4.84 billion; operating profit was 6.1. Billion US dollars, a slight increase of 0.3% over the same period of last year; net profit increased from US$410 million in the same period last year to US$450 million, an increase of 7.7%.
Cummins’ operating income for the first half of the year was US$9.24 billion, an increase of 9.4% from US$8.45 billion in the same period of last year; operating profit increased by 9.9% from the same period last year to US$1.13 billion; net profit increased from US$0.7 billion in the same period last year to 7.8 Billion US dollars, an increase of 12.6%.
Among all business units, engine division sales amounted to US$5.31 billion in the first half of the year, an increase of 10.9% over the same period of last year; sales of components division increased by 14.0% year-on-year to US$2.51 billion; sales of power division decreased year-on-year. 6.2% to US$140 million; distribution division increased 9.2% year-over-year to US$220 million.
Cummins said that as the company's first-half profit exceeded expectations and the business in North America and China maintained a good growth, the company decided to increase its full-year performance forecast for the year.
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