JCB set new records for turnover and machine sales in 2017, the company has announced.
The Staffordshire-based construction and agricultural machinery maker revealed that its sales turnover in 2017 rose by almost 28% to £3.35bn, while machine sales increased to 75,693, a rise of almot 10,000 machines on the previous year.
Global production levels are at a record level of 500 machines per day. The company believes this is due, in part, to the continued strong market rebound for construction and agricultural machinery.
JCB CEO Graeme Macdonald said: “2017 was a very strong year for JCB during which we outpaced the market and set new sales records. While the global market grew by over 21% last year, JCB’s sales increased by almost 28%. This growth drove demand across all of JCB’s product ranges, in particular for Loadall telescopic handlers, where we are now investing in increased global production capacity.”
JCB Chairman Lord Bamford said: “The continued growth in global markets in 2018 has seen JCB production rates reach their highest in our history. Employment levels across our plants are also at record highs and we now employ more than 15,000 people. In the UK alone we have recruited almost 1,100 people this year, which is superb news for JCB and great news for British manufacturing.”
The company has 22 factories around the world, including 11 in the UK. Its UK plants now employ a record 7,600 people. In June, the company revealed it was investing £50m in a new plant to manufacture cabs for its machines in Uttoxeter, Staffordshire. The factory will open in 2019.