Agco raised its 2011 revenue target to $8.3bn-8.5bn, from $7.6-7.9bn following a January-to-March period in which group revenues rose by more than one-third to $1.8bn, driven by a jump of more than one-half in takings in Europe, Africa and the Middle East, the company's biggest division. Demand had increased "sharply" in Western Europe, as high agricultural commodity prices encouraged farmers to invest, Agco said. "Strengthening market conditions and the improved outlook for farm income in western Europe resulted in robust sales growth in the [division], "Agco said, noting French, Germany and UK markets as particularly strong. The group's profits upgrade came despite a caution that its margin improvements this year would be "limited" by investments in new products, in the face of fresh restrictions in US emissions from large vehicles.

UkrAgroConsult