JCB reports record profits
JCB, one of the UK's leading manufacturers, has reported record annual revenues and profits for the financial year 2011-2012.
Revenues for the Staffordshire-based company rose 37pc to £2.75bn in 2011, whilst earnings before interest, tax, depreciation and amortisation reached £355m in comparison with £235m last year.
These figures are the highest in JCB's 66-year history. According to Chairman, Sir Anthony Bamford, of JCB, the company was enjoying "very strong growth in both traditional markets and the emerging economies".
JCB's strong perfomance will be welcomed by the Coalition, which is striving to rebalance Britain's economy by growing its manufacturing base.
JCB sold 69,100 machines last year, a sharp increase on the 51,600 sold in 2010.
"While we are mindful of the continuing economic and political uncertainties in some parts of the world, JCB's ongoing investment in its 22 global factories, coupled with the biggest product launch programme in our history, means we are well placed to seize new opportunities for growth and deliver another strong performance in 2012," added Sir Anthony Bamford.
JCB employs 10,000 people and is the world's biggest producer of diggers and telescopic handlers. The company is planning further expansion in 2012 with a new plant in Sao Paulo, Brazil.