03.06.2008

Record profits for JCB

JCB one of the top two telehandler manufacturers has reported a 30 percent increase in its full year 2007 revenues, to £2.25 billion ($4.4 billion) a new record. At the same time pre-tax profits jumped 25 percent to £187 million ($360 million) the best in its 62 year history.

The company says that it built over 72,000 machines – up from 55,000 in 2006 - a number if uses to stake its claim to be the world’s third largest manufacturer in terms of the number of units built. The company also says that its share of the construction equipment market rose by 1.6 percentage points to 12 percent.
Please register to see all images

Several factors contribute to better rear visibility and overall manoeuvrability

Emerging markets provided the main source of growth in 2007, particularly India, Poland, Russia, Bulgaria, Romania and South America. New products accounted for 50 percent of the growth.

JCB chairman Sir Anthony Bamford said: “2007 saw JCB make great progress and it was our best-ever year. The outlook for the remainder of 2008 does look challenging but I believe we are well-placed to adapt to these difficult conditions.”

Chief executive, Matthew Taylor said: “Trading conditions throughout 2008 will continue to be difficult because of the credit crunch. There are signs that the downturn in the North American market is now spreading into some western European markets. The recent high growth rates in some of the emerging markets are also now showing signs of slowing.”

During the year JCB invested in a number of new facilities including: A £40 million JCB heavy products plant in and a £7 million attachments plant at its main location in Uttoxeter, UK. A £36 million extension to its backhoe loader plant in New Delhi, India and a new £15 million parts centre and training facility in Savannah, USA, which has yet to open.