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Caterpillar's earnings jump 34% on ME sales
- Middle East: Wednesday, July 23 - 2008 at 07:44
Caterpillar, the world's largest maker of earthmoving equipment, has reported that its second-quarter earnings rose 34% on demand for backhoes and mining equipment in the Middle East and Asia, reported Bloomberg. Net income increased to $1.11bn, or $1.74 a share, from $823 million, or $1.24, a year earlier, the US-based company said. Sales increased 20% to $13.6bn.
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