JCB has announced an increase in both profits and turnover in 2022 – but warned of a ‘less certain’ outlook for the coming year.
Sales turnover in 2022 grew from £4.4 billion to £5.7 billion, while pre-tax profit is up from £501.6 million to £557.7 million.
Machine sales increased to 105,148 from 95,650. The group revealed that it maintained a ‘strong’ balance sheet with no net borrowings throughout 2022.
JCB CEO Graeme Macdonald said, “The group delivered a strong set of results in 2022 against a backdrop of supply chain disruption, high energy prices and rising levels of inflation. The situation for the remainder of this year and into 2024 remains uncertain as some markets and certain sectors are showing early signs of softening.”
