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220% increase for JCB
00:00 26 May 1994
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Stafford-based plant manufacturer JCB has posted sales of
œ398.4 million and pre-tax profits of œ26.6 million for
1993, an increase of 220% on its 1992 figures.
The company - releasing figures for the first time - said the increase is due to a significant upturn in UK sales which are now almost back to 1989 levels. An increase in the American market has also contributed. Margins were hard hit by competition in 1992 with return on sales averaging just 2.3%, compared to around 11% in the 1980s.
The immediate problem for the company is to cut the losses at the 360deg excavator joint venture with Sumitomo and the 4x4 wheeled loader division.
Sales of the JS excavators have been good since they were launched last year, but the rising value of the Yen, plus the downturn in all the European markets, has put the company well and truly behind schedule.
The wheeled loader division, long starved of real development money until now, launched a new range of machines at SED that should compete at the top end of the market.
The company - releasing figures for the first time - said the increase is due to a significant upturn in UK sales which are now almost back to 1989 levels. An increase in the American market has also contributed. Margins were hard hit by competition in 1992 with return on sales averaging just 2.3%, compared to around 11% in the 1980s.
The immediate problem for the company is to cut the losses at the 360deg excavator joint venture with Sumitomo and the 4x4 wheeled loader division.
Sales of the JS excavators have been good since they were launched last year, but the rising value of the Yen, plus the downturn in all the European markets, has put the company well and truly behind schedule.
The wheeled loader division, long starved of real development money until now, launched a new range of machines at SED that should compete at the top end of the market.
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