JCB reports increase in profits

The firm, who manufactures much agricultural machinery, has released their recent figures

13:05 15 April 2013

JCB, the group who are well known for their agricultural machinery, has seen an increase in profits. The firm has reported earnings for last year of £365million. This figure for 2012 is up compared to the figure from the year before that.

 

The increase comes from a demand for machinery. With regards to farming, JCB reportedly sold more than 69,000 machines in 2012. This was slightly more than the amount sold in 2011.

 

“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,” said Chairman Sir Anthony Bamford.

 

Adding: “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.”

 

It may be that some companies in Britain are unsure what 2013 may bring with regards to sales given the current financial climate. JCB are hopeful for ‘some growth’ -  as explained by Sir Anthony – but the Chairman said this would “depend on the pace of the global recovery”.

 

JCB are a company who has business in the UK as well as abroad, on a global scale. It is understood they have factories outside of the UK.

 

JCB are well-known for their machinery, including their diggers and tractors.