16.04.2013

JCB posts record profits

JCB has announced that revenues in 2012 were £2.7 billion, virtually the same as in 2011, however it said that it was the best year in its 67-year history in terms of profitability, with ‘earnings’ reaching £365 million a new record.

JCB chairman Sir Anthony Bamford said: “In view of the continued fragility of the global economy, which has led to renewed slowdowns in emerging and developed markets, JCB’s results in 2012 are extremely encouraging. They not only demonstrate the resilience of our business, but highlight the importance of continued investment in products, facilities and customer service.”

“While construction equipment markets in many parts of the world remained weak, that has been more than offset by strong growth for our agricultural products, particularly in materials handling. Despite continued uncertainty, particularly in European economies, 2013 has started satisfactorily. We are expecting some growth this year but how much will depend on the pace of the global recovery.”

JCB is a privately held business and does not release detailed accounts, but says that sales in Africa doubled last year while the Americas increased by 20 percent and the Middle East by 12 percent.

Vertikal Comment

This is an excellent result from JCB in a relatively tough market – sadly we do not have sufficient details at this stage to provide any further analysis.