JCB posts record £355m profits

JCB today posted its biggest turnover in the business’ 66-year history, with 2011 revenue of £2.75bn - a 37% increase on 2010’s figure.

The construction and agricultural equipment maker, said profits before tax, depreciation and amortisation were a record £355m, an increase of 51% on the previous year.

Chairman Sir Anthony Bamford said the firm’s record financial performance had 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,” he said.

“We are investing heavily in manufacturing facilities in the UK and overseas, and later this year a new 350,000 ft2 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.”

The firm said its machine sales rose to 69,100 units in 2011 up from 51,600 in 2010.

It is the world’s third-largest manufacturer of construction equipment.