JCB scoops £4bn sales record but warns tough conditions lie ahead for its international operations
JCB has revealed record annual sales but said tough conditions lie ahead for its international operations.
The Staffordshire-based digger manufacturer said turnover reached £4.1billion in 2018, up from £3.4billion the previous year, while profits increased from £341million to £447million.
JCB makes powered platforms, tractors, diggers, road rollers, military vehicles and generators.
JCB has revealed record annual sales but said tough conditions lie ahead. Chairman Lord Bamford is pictured.
It also sold 96,246 machines last year, compared with 75,693 in 2017.
But despite cheering the strong performance, it warned 2019 was proving tougher because of falling demand globally for construction kit.
Chief executive Graeme Macdonald said: ‘2018 was a very strong year for JCB during which the global construction equipment market grew by 18 per cent to an all-time high of one million machines.
‘JCB outpaced this. However, this growth has stalled, with many markets softening this year.’
New products developed by JCB to help boost sales include a new electric digger.