US machinery giant Case New Holland has reported a sharp drop in half year profits, as sales of new tractors and combines fell in the first half of 2019.

Announcing half year results last week, Case New Holland said profits (EBIT) from the sale of agricultural machinery fell 13% year on year to $509m (€455m), as profit margins tightened from 10% in 2018 to 9.1% this year.