JCB: 66,227 Machines Sold in 2013; “Mixed” Start to 2014
A slowdown in demand within various world markets has dug into profits at JCB. Underlying earnings for 2013 were £313 million ($529 million) compared with £365 million ($617 million) in 2012. Turnover was £2.68 billion ($4.53 billion) compared with £2.70 billion ($4.56 billion) in 2012. JCB’s machine sales stood at 66,227 versus 69,250 machines in 2012.
JCB chairman Lord Bamford said: “Turnover remained virtually unchanged year-on-year but volume and earnings were adversely affected by a slowdown in emerging markets, notably India, where JCB has a strong presence. This was further compounded by adverse currency movements in some economies. Turnover growth in the UK, Middle East and Africa during 2013 helped to offset reductions in India, Europe and the Far East.”
He added that 2014 has got off to a “mixed start” with stronger demand in the UK and North America which is offsetting “the more fragile economies of Asia, Latin America and Russia.” The 2013 figures was the company’s third most profitable in JCB’s history, he said.