JCB sees record turnover and sales thanks to “strong” market rebound

JCB has invested £110 million in the launch of the new X-Series excavator this year

JCB has reported record turnover and machine sales in 2017, thanks to strong market rebound.

The global plant giant saw a near 28% rise in sales turnover to £3.35 billion, up from £2.62 billion in 2016. Machine sales increased to 75,693, up from 66,011 the previous year, while earnings on an EBITDA basis rose by almost 19% to £341 million.

JCB said the market rebound has continued strongly in 2018, pushing global production levels to a record 500 machines per day.

JCB CEO Graeme Macdonald commented on the results, “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%, 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 added, “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 or JCB and great news for British manufacturing.”