Jaguar Land Rover have witnessed a 34% jump in profits after sales hit a record high of £1.5 billion during 2011-2012.

This was a increase of £1.12 billion in the previous year, and represented a 27% increase in retail sales to 305,859 units. Parent company Tata Motors said the increase was down to strong demand from China and other emerging markets.

Pre-tax profits  for Q1 2012 were £530 million, an increase of £231 million on the same period last year. Revenues were also up by £4.14 billion.

The UK is still the car manufacturer’s biggest market, but 80% of production is now exported to respond to demand from emerging markets.

Jaguar Land Rover chief executive Ralf Speth commented: “Today’s announcement… is a positive reflection of the continued level of consumer confidence in both of our brands.


Earlier this year the car maker announced plans for a joint venture agreement with Chery Automobile to build vehicles for the Chinese market. However Chinese authorities have yet to give the agreement regulatory approval.