JCB reports record sales – From £2.62 billion to £3.35 billion
JCB has had a record year in 2017 thanks to global markets, with sales surpassing £3bn for the first time.
The firm has revealed an astounding report of their sales in the past year, showing a 28% growth from 2017! Chairman of JCB, Lord Anthony Bamford has been reported saying that JCB’s production rates have now reached the ‘highest in our history’. He goes on to say, “The continued growth in global markets in 2018 has seen JCB production rates reach their highest in our history.
CEO, Graeme Macdonald added: “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.”
Recent figures from the Rocester based firm show that the company’s sales turnover rose from £2.62 billion to £3.35 billion in 2017. The number of machines sales rocketed from 66,011 to 75,693 in just a year.
The increase in demand has pushed JCB to increase their production rate, pushing the rate to a new record of 500 machines a day, This is vital to keep up to the demand of growing global markets. Company bosses label the recent growth down to the international market, with a lot of the growth attributed to China.
Where’s the increased demand coming from?
The 28% increase in sales was driven by demand from large construction projects in China. Demand from the Chinese market rose an astonishing 73%, with most key markets including the UK performing similarly.
The growth that JCB has seen in the past year has a huge effect on their workforce. The firm have employed over 1,100 new staff members to keep up with the demand. This news comes just months after JCB announced plans to build a new £50 million factory by the in Uttoxeter. McLaren Construction has started to build the 350,000 sq ft factory, which is next to two existing JCB plants.
The new factory will specialise in cab manufacturing. JCB are looking to double their production of cabs used on its machines. The hi-tech plant will have the capacity to produce around 100,000 cabs a year when it opens in 2019. The plant is due to open in 2019, likely encouraging more local employment. You can find out more about this story here: JCB News – August 2018
JCB now employs over 15,000 in the UK alone, pushing them into the top 25 biggest employers. This is great news for British trade, manufacturing & the local economies that are benefiting from the firm’s need for workers.
JCB now has 22 factories around the world. This includes 11 in the UK, with the UK plants creating work for over 7,600 people. With this figure prospected to grow with the new plant in 2019, JCB is on it’s way to be one of the biggest private employers of people in the UK.
Behind every reliable JCB machine is a reliable JCB service. When it comes to a professional JCB service, D.C. Merrett is a leading provider in the South West. D.C. Merrett has decades of experience of providing professional repairs & services to all JCB equipment, making sure that everything that comes through their grounds is serviced to an OEM standard. The team understand how important it is to minimise downtime, especially if you are dependent on heavy equipment. This is why we make sure we have a team of qualified & trained technicians ready for a service or repair. If you are looking for a JCB service, contact our team today! Get a service which is as good as you want it to be! – JCB Servicing
Robin is a content producer for D.C. Merrett and has been writing for the company for years. Robin has a keen eye for bringing industry news to consumers in an easy to understand manner.