Staffordshire construction and agricultural machinery maker JCB has announced a rise in profits, turnover and machines sold in its latest accounts.
In 2022, profit before tax grew to £557.7 million – up from £501.6 million in the previous 12 months and representing a jump of more than £420 million in two years.
Meanwhile, sales turnover increased to £5.7 billion in 2022 rising from £4.4 billion in 2021.
Machines sales notched up grew to 105,148 – rising from 95,650 units in 2021.
The company also announced that the JCB Group maintained a strong balance sheet with no net borrowings throughout 2022.
However, despite the strong growth in revenue and improving profitability, JCB bosses have warned of a less certain outlook for the coming year.
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.”
The company, which has its World Headquarters in Rocester, employs thousands of workers at its UK factories in Staffordshire, Derbyshire and Wrexham.
It also has manufacturing plants in the USA, Brazil, India and China with a dealer network stretching around the globe.
JCB’s latest finances at a glance:
| 2022 | 2021 | |
| Turnover (£) | £5.7 billion | £4.4 billion |
| Profit before tax (£) | £557.7 million | £501.6 million |
| Machine sales (units) | 105,148 | 95,650 |
