Palfinger Group has posted a revenue growth of 10.7 per cent in the first quarter of 2015 at ?292.3 million. Earnings before interest and tax (EBIT) increased by 15.5 per cent to ?23.6 million, the EBIT margin once again exceeded the 8 per cent mark, said the company, with consolidated net earnings rising by 21.4 per cent to ?14.5 million.

The primary reasons for the positive revenue, which was higher than in any previous quarter, included the relatively stable business in Europe and rising demand in North America, Russia/CIS as well as in Asia, mainly in China.

Revenue declined only in South America, where, however, Palfinger still managed to improve its competitive standing despite the shrinking market there, it said.