Staffordshire digger giant JCB profits recover but the outlook remains uncertain
Staffordshire digger giant JCB has announced that its profits recovered in 2021 after the turbulence of the Covid-19 pandemic, but is warning of a less certain outlook for the coming year.
Sales turnover in 2021 grew to £4.4 billion from £3.1bn in 2020and profit before tax grew to £501.6m from £130.1m.
Machine sales increased to 95,650 from 74,590 as the group maintained a strong balance sheet with no net borrowings throughout 2021.
JCB's chief executive Graeme Macdonald said: “The results for 2021 were encouraging but the outlook is less certain for the remainder of 2022 and into next year as we continue to wrestle with supply chain disruption, the geo-political situation caused by the war in Ukraine, record levels of inflation and the looming impact of higher energy prices on our production facilities around the world.”
