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Wed August 10 2022

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JCB sales outstrip market growth

2 Aug Accounts filed by JC Bamford Excavators Ltd for the year to 31st December 2021 show the British machinery manufacturer’s sales growing much more strongly than the market as a whole in the wake of the covid pandemic.

Around 15,500 people attended the JCB Family Festival on 16th July,  staged as a thank you to UK employees past and present
Around 15,500 people attended the JCB Family Festival on 16th July, staged as a thank you to UK employees past and present

The global construction equipment market grew by 13% compared to 2020 as demand rebounded (source: ISTAT). Excluding China, global market growth was 23%.

However, group turnover of JC Bamford Excavators Ltd increased by 41% to £3,438m in 2021. This compares to £2,437m in 2020 and £3,243m in 2019.

Operating profit for 2021 was £322.2m (2020: £133.6m) and pre-tax profit was £324.5m (2020: £135.3m).

Net assets increased to £1,117m at year-end (2020: £731m), while net cash and cash equivalents increased to £324m (2020: £242m).

Sales in UK & Ireland accounted for £568.1m of the turnover, up from £277.7m the previous year. The rest of Europe brought in £857.9m (2020: £529.8m) and North America £735.0m (2020: £512.1m).

India remains by far JCB’s biggest market, generating £1,009.7m of revenue – 29% of the total, although 2020’s £942.2m revenue from India was nearly 39% of the total.

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MPU
MPU

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