(MENAFN) Caterpillar, the US industrial giant, reported that its net profit rose 8 percent to USD1.02 billion during the July-September period of this year, due to the company's restructuring plan and cost controls which helped it deal with slower global economic growth, Arab News reported.
Caterpillar, which is maker of a wide range of heavy construction, machinery and mining equipment, said its sales and revenues in the July-September quarter rose 1.0 percent to USD13.55 billion.
"We're pleased with the third-quarter profit improvement considering world economic growth remains slower than we'd like. The diversity of the businesses we're in and the strengthening of our operational performance have been key to helping us improve results and our competitive position in this weak economic recovery," Caterpillar chairman and CEO said.
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