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East Midlands Chamber News

Record Year for JCB as Profits Rise to New High

JCB today announced that 2012 was the best year in its 67-year history with earnings reaching a new record.

Earnings rose to £365m on an EBITDA basis (2011: £355m) on turnover which remained virtually unchanged at £2.7bn.

In a global market which contracted by ten percent, JCB’s machine retails also rose slightly to 69,250 (2011: 69,100), which means that once again JCB outperformed the market.

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."

He said that while construction equipment markets in many parts of the world remained weak, that had been more than offset by strong growth for agricultural products.

"Despite continued uncertainty, particularly in European economies, 2013 has started satisfactorily," he said, adding: "We are expecting some growth this year but how much will depend on the pace of the global recovery.”