JCB post record results
Global construction and agricultural equipment manufacturer JCB have revealed record financial results for 2011.
Turnover for the Uttoxeter-founded firm rose to the highest level in the company’s 66 year history.
At £2.75bn, it is 37% greater than the £2bn achieved in 2010 and more than double the £1.35bn sales recorded in 2009.
Earnings before interest, tax, depreciation and amortisation (EBITDA) reached a record £355m and machine sales rose to 69,100 units.
Today JCB Chairman Sir Anthony Bamford said: “This record financial performance has been delivered on the back of very strong growth in both traditional markets and the emerging economies.
“While we are mindful of the continuing economic and political uncertainties in some parts of the world, JCB’s on-going 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.
“We are investing heavily in manufacturing facilities in the UK and overseas, and later this year a new 350,000 sq ft factory will start producing backhoe loaders and excavators in Sao Paulo, Brazil.
“Substantial investment in research and development continues to keep JCB at the forefront of construction equipment technology, including engine development programmes to further improve fuel efficiency and meet legislative requirements.”
JCB has 22 plants on four continents in addition to 16 parts centres for support around the world, and employ more than 10,000 people.
This was posted in Bdaily's Members' News section by Tom Keighley .