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JCB has just released impressive financial results for the 2017 year.
Despite Brexit being foreshadowed as a handbrake on Britain’s exports to Europe, it seems the future holds no fear for construction and farm machinery maker JCB, which has just released impressive year 2017 financial results.
The company produced 75,693 machines, up from 66,011 in 2016, resulting in a sales turnover increase of about 28% to GBP 3.35 billion (NZ$ 7.37b), up from GBP 2.62b.
Earnings rose by 19% to GBP 341 million (NZ$ 685m), and the company notes that since 1975 the average return on investment has always exceeded 30%.
The global market is said to have risen by 21% in 2017, but JCB was ahead of trend with growth up 28%, much of it derived from big gains in its Loadall telehandler product range.
It has 22 factories worldwide, including 11 in the UK, and about 15,000 employees (7600 in UK).
Production figures for the 2018 year are trending upward: daily production is 500 machines. This continued growth is said to be the stimulus for building a GBP 50m factory at the Uttoxeter base for cab production, scheduled for opening in 2019.
There can't be many people who on seeing the distinctive bright yellow and red colour scheme, don’t think ‘JCB’. Indeed, JCB has largely become the generic name for all brands of excavators, not unlike the term Fridge or Hoover.
JCB has released details of its new Fastrac 6000 Series, filling the gap between the current 4000 Series (160- 240 horsepower) and the 8000 Series (330+ horsepower).
Since Donald Trump’s import tariff announcement, the world has been on a wild economic ride.
Since Donald Trump’s import tariff announcement, the world has been on a wild economic ride.
After establishing its own engine facility in the UK in 2004, followed by an Indian plant in 2010, JCB currently builds around 500 of its Dieselmax engines every day and hit the one million units milestone in late 2024.
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Another Australian state has given the green light to virtual fencing, opening another market for Kiwi company Halter.
Farmer interest continues to grow as a Massey University research project to determine the benefits or otherwise of the self-shedding Wiltshire sheep is underway. The project is five years in and has two more years to go. It was done mainly in the light of low wool prices and the cost of shearing. Peter Burke recently went along to the annual field day held Massey's Riverside farm in the Wairarapa.
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