21.06.2011

JCB climbs 48% as it celebrates 65 years

JCB the UK based construction equipment manufacturer has reported full year 2010 revenues of £2 billion, up 48 percent on last year. In total it sold 51,600 machines, compared to 36,000 in 2009. Earnings before interest, tax, depreciation and amortisation (EBITDA) were £235 million, compared to £94.5 million in 2009.

Sir Anthony Bamford said: “We started 2010 cautiously optimistic about trading prospects and I’m delighted that our optimism was rewarded with a very strong result for the year. The pace and strength of the recovery varied by market. Growth was strongest in the ‘BRIC’ countries and other developing economies, but some established markets, notably the UK and Germany, also performed satisfactorily.

“2011 has also started well for the JCB Group but we are still mindful of economic concerns which could hold back the recovery. We continue to invest in our manufacturing facilities, notably this year in India and Brazil and, of course, in new products, with 13 new machines launched so far in 2011.”

The company says it will invest more than £20 million in modernising and increasing capacity at its 11 UK production facility. The company is also investing in a new 350,000 sq ft factory in Sao Paulo, Brazil, for the manufacture of backhoe loaders and tracked excavators that will become operational in early 2012. The company has also opened an engine manufacturing plant in India which went into production this year.

JCB also celebrates its 65th anniversary this week with every employee receiving a bottle of Château Léoube rosé wine, two glasses and a DVD highlighting the growth of the company in that time.

Bamford said: “In 65 years we’ve gone from one man in a garage in Uttoxeter, Staffordshire, to a major global brand renowned for its pioneering spirit. All of this is down to our people. JCB is on the threshold of even greater success and it’s our employees who will help drive our future.”