Japan: The world’s largest heavy equipment maker Caterpillar increased its profits five fold due to the global demand for its products. Compared to the statics of a year ago this year in the first three month the company generated $1,225m up from $233 from last year.

In New York, shares in the US firm closed 3% higher. According to caterpillar this quarterly profit is primarily due to selling more. It has products such as engines, machinery, electronics and other gas turbines which are used to generate power.

The chief executive Doug Oberhelman said he is very pleased with his first quarter result. He also added “Demand continued to improve, we increased production, cost control was excellent, and our operating profit margin improved”. Now Caterpillar has increased its sales forecast from $50bn to $54bn.