Agricultural machinery company JCB have announced a growth of 34% on last years earnings.
The machinery producer, based in Staffordshire, revealed yesterday that their sales turnover had increased by 12% up to a whopping £2.62 billion, this is up from £2.34 last year.
This is mainly due to an increase in machinery sale numbers, up from 59,844 to 66,011 this year.
The increases were obtained despite a difficult year in the industry.
Their Indian business saw increases of 40% while in countries such as Brazil, they fell.
The company say though that overall in Europe the saw growth exceeding 10%.
The company chairman, Lord Bamford, welcomed the news and said that although they will face some challenges that they expect a “buoyant” year.
He added that there is currently a high demand for mid range equipment such as telescopic handlers in particular, due to the recent upturn in the construction industry.
Lord Bamford also added that road improvement schemes within the UK also point to an increased demand in equipment, and thus improving their profit lines.