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JCB CELEBRATES RECORD YEAR AS PROFITS SOAR TO ALL-TIME HIGH

JCB CELEBRATES RECORD YEAR AS PROFITS SOAR TO ALL-TIME HIGH

17 Jul 07. JCB enjoyed its most successful year ever in 2006 by setting new records for pre-tax profits, turnover, machine sales and global market share, the company announced today.

JCB Chairman Sir Anthony Bamford said: “Last year was undoubtedly the most successful year in JCB’s history. We not only benefited from growth in the global construction equipment market but more importantly we have grown faster than the market.”

In 2006, pre-tax profits rose to £149m – an increase of 35 per cent compared to 2005, when pre-tax profits stood at £110m.

Also in 2006:
Turnover rose to a record of £1.75bn – up from £1.42bn in 2005
Machine sales rose to over 55,000 – up from 45,000 in 2005
JCB’s World market share rose to 10.4 per cent from 9.6 per cent
JCB was the World Number One for Backhoe Loaders and Loadall Telescopic Handlers
JCB rose one place to become the world’s 3rd largest construction equipment manufacturer by volume
The JCB Dieselmax, powered by two JCB engines, became the world’s fastest diesel powered car when it reached a speed of 350.092mph on the Bonneville Salt Flats, USA

During 2006, global recruitment rose dramatically with more than 1,250 new employees joining JCB. Globally, JCB’s workforce stood at around 8,000 in 2006.

In Pune, India, JCB built a new factory to produce excavators, wheeled loading shovels and compaction equipment. The plant is adjacent to a fabrication factory which is now in its second year of production. At its Pune factories, JCB recruited an additional 450 people during 2006.

Last year also marked the opening of a new factory in Shanghai, China, for the production of backhoe loaders and midi excavators.

During 2006 JCB unveiled a range of new products, including five new zero-tailswing mini excavators; eight new additions to its range of tracked excavators; new Robot skid steer loaders; Mini CX and Midi CX backhoe loaders and a range of diesel-powered generators. JCB’s range of wheeled loaders was also expanded with new compact models. The company also expanded its Groundcare equipment range to include five new compact tractors.

Among the territories where JCB is enjoying success in 2007 are the emerging markets, particularly Central and Eastern Europe, Russia and the Middle East. India is also performing strongly.

JCB Managing Director and CEO John Patterson said: “In the last three years JCB has become a truly global manufacturer with the investment of over £120 million in new factories in India, China and Germany. In that time the number of JCB machines manufactured has increased by 85 per cent.

“The investment in manufacturing capacity has been one of the drivers of our growth along with innovation, the continuous development of new products and a strategy of increasing our focus on emerging markets where the potential for growth is enormous.

“When combined with the overall growth of the market and the continued growth in our mature markets, all these factors contributed to a successful year and ensure the building blocks are in place to take us to new heights in 2007.”

These excellent results come at a good time for JCB which announced during DVD the establishment of its Government & Military Department.

On June 20th 2006 JCB announced the launch of a new range of High Mobility vehicles to meet the growing demand for such vehicles for the world-wide military. Building on their unique design of its Fastrac tractor and the announcement last October that the U.S. Army had ordered 600+ of its High Mobility Engineer Excavator(HMEE), in an order worth £140m, JCB surprised the audience by announcing not one but two new vehicles, the High Mobility Variable Reach Truck (HMVRT) and High Mobility Utility Vehicle (HMUV), the latter will compete head on with the current choice of vehicles on the market, the HMT, Duro, Pinzgauer and Mercedes Unimog. These vehicles are on display at the DVD

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