Construction Equipment Builder JCB Has Record-Breaking Year

JCB Chairman Sir Anthony Bamford ran up record profits and turnover in 2011.

The UK-based construction and agricultural equipment manufacturer JCB announced record-breaking financial results for 2011 this week.

The firm earned ????????355 million ($566 million) in pre-tax profits last year, compared to ????????235 million ($377 million) in 2010. JCB also increased turnover to a record ????????2.75 billion ($4.4 billion) ?EUR??,,????'??? up 37 percent on the ????????2 billion ($3.2 billion) it reached in 2010.

Machine sales were also up nearly 30 percent, and JCB?EUR??,,????'???s UK workforce has grown from 4,950 to 6,100 workers to meet demand. The firm continues to invest heavily in its 22 factories worldwide, and has expanded its global labor force from 8,500 to 10,500.

''This record financial performance has been delivered on the back of very strong growth in both traditional markets and emerging economies,'' said JCB Chairman Sir Anthony Bamford. ''While we are mindful of the continuing economic and political uncertainties in some parts of the world ?EUR??,,????'??? JCB is well placed to seize new opportunities for growth and deliver another strong performance in 2012.''

JCB plans to unveil 66 new products for global markets in 2012, including the premiere of a new telehandler rated for 4,000kg (8,818 lbs.), with a lift height of 20 meters (65 feet), making it the highest-reaching telehandler available in Europe.

"We are investing heavily in manufacturing facilities in the UK and overseas, and later this year, a new 350,000-sq-ft factory will start producing backhoe loaders and excavators in Sao Paulo, Brazil," Bamford said. "Investment in research and development continues to keep JCB at the forefront of construction equipment technology, including engine development programs to improve fuel efficiency and meet legislative requirements."

This recent success marks a turnaround in fortunes for the firm, which had to cut almost 30 percent of its UK workforce following the global economic downturn at the end of 2007.