11th February 2008 - Our goal in 2008 is 20% growth on top of the record of $234m in 2007 up 13%


"In calendar 2007 our business grew by 13%, to unconsolidated revenues of $234m, placing Clark Equipment well into the BRW top 500 private companies list," said Robert Hammond Managing Director of Clark Equipment at the 3rd Diamond Dinner in the Hunter Valley late last year, "and our staff numbers have grown to over 450 with a further 20 vacancies currently being advertised."

"Reviewing the 2007 year in detail, we have new branch facilities in Brisbane, a new sales facility at Silverwater, a new forklift facility at Hornsby, renovated our aftermarket facilities in Sydney, and opened a new branch in Hamilton NZ and are now opening a new operation in the Hunter Valley. We are continuing to grow our manufacturing with over $1m investment in new product engineering, additional allocation of manufacturing space, and further capital expenditure currently underway. Our 2008 goal is a 24% increase in manufacturing output."

"We have enjoyed success in many areas of our Company. Bobcat Compact Construction has continued to dominate their market with nearly 30% of the combined loader/excavator market. Our market share has actually increased in a declining skid-steer loader market and remained strong in the mini-excavator market."

"We have been advised that we are now the largest Bobcat dealer in the world."

"Our Heavy Equipment Division has continued to dominate the big forklift market with an approximate 60% share in the above 16 tonne segment and a 22% growth in revenues stemming from increased activity in the aftermarket and significant success with the Noell and Terberg brands. Special congratulations are due to our engineering and manufacturing teams on the release of the Omega Reach Stacker, the first ever Reach Stacker manufactured in Australia. An amazing effort."

"Our Clark Forklift business was recognised by Clark Material Handling in the US as the "Best Dealer in the Asia Pacific". And I am pleased to announce that we have signed an agreement with VIP home services to supply an expected $3m of cleaning equipment over the next 3 years. There were volume increases in virtually every aspect of our Utility and ASV business."

"Our Road Construction Equipment team has continued to dominate the highway class paver market. I have been advised that we are the 5th largest IR road equipment dealer in the world, an incredible achievement considering we started from a zero base 3 years ago. Indeed, we have been recognised with the award of the Best Road Construction Dealer and Bobcat Construction Machinery Dealer in Asia Pacific for 2006."

"We have successfully launched CEFIT, our finance arm, which has grown month by month and has reached its first goal of a million dollar month in June. Congratulations to Ruth Frost and Peter Hammond on a start up success and many thanks to Macquarie Bank for their support."

"The sale of Bobcat to Doosan Infracore was completed late 2007. Clark Equipment welcomes the sale as the acquisition will bring a new era to Bobcat, with an owner in Doosan Infracore, committed to growing the business. We look forward to the new product opportunities that Doosan shall bring to Bobcat and Clark. Clark is recognised within Bobcat as not only the largest Bobcat Dealer in the world, but also as an innovative and capable partner with whom they can work."

"As we address the issues I am taken with two things; firstly …the quality and loyalty of our team and our dealers to enable us to respond in a positive manner. Secondly… the help, assistance and advice of our partners to assist in navigating these bends in the road, together we will navigate them successfully in 2008 when we aim to grow by 20% on top of the growth achieved in 2007. The key to achieving our goal lies with our people. We forecast that during 2008 employee numbers will reach 500. This will require careful staff recruitment and development to have the right talent to facilitate our growth."

"We will be expanding our facilities to facilitate the planned growth. During 2008 we will be establishing a new operation in Newcastle, combining our Bobcat and Materials Handling businesses. We have signed for new, larger premises on the Gold Coast, with expected operational date of early this year. Christchurch will be updated into a larger property in November 2008 and we currently have studies in both Melbourne and Perth for bigger properties. Our plan is to open 20 new locations over the next two years."

"2008 will again be an exciting year of achievement for Clark Equipment."