JCB posts record financial results

News Story
- 3 May 2012 ( #563 ) - Rocester, United Kingdom
1 min read
Global equipment maker JCB has achieved record turnover for 2011.

The company's turnover rose 37% from the previous year's GBP2 billion (USD3.25 billion) to GBP2.75 billion (USD4.46 billion), the highest level in its 66-year history. It was more than double the GBP1.35 billion (USD2.19 billion) in sales JCB recorded in 2009.

Company chairman Sir Anthony Bamford says JCB's financial performance was delivered on the back of strong growth in traditional markets and emerging economies.

"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 program in our history, means we are well placed to seize new opportunities for growth and deliver another strong performance in 2012," he says.

Earnings before interest, tax, depreciation and amortisation were GBP355 million (USD576 million) and machine sales rose to 69,100 units compared to 51,600 units in 2010.

"Substantial investment in research and development continues to keep JCB at the forefront of construction equipment technology, including engine development programs, to further improve fuel efficiency and meet legislative requirements," Bamford says.

He says JCB is "investing heavily" in manufacturing facilities in the UK and overseas and later this year a new 350,000 sqft. (32,516 sqm) factory will start producing backhoe loaders and excavators in Sao Paulo, Brazil.

In 2011, JCB retained its position as the world-leading manufacturer of backhoe loaders and telehandlers. JCB says it will unveil 66 innovative new products for global markets this year - many were unveiled at the Intermat construction equipment fair in Paris last month.

The company employs more than 10,000 people around the world and has 770 dealers with 2,000 dealer depots.
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