JCB sold 51,600 machines during the year, up from 36,000 machines the year before. Although this indicates a strong bounce back, the number of units shifted was still well short of the 72,000 sold in 2007 or even the 57,000 sold in 2008 when the global downturn began.
Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to £235m in 2010, compared to £94.5m in 2009.
Chairman Sir Anthony Bamford said: “We started 2010 cautiously optimistic about trading prospects and I’m delighted that our optimism was rewarded with a very strong result for the year. The pace and strength of the recovery varied by market.
"Growth was strongest in the ‘BRIC’ countries and other developing economies, but some established markets, notably the UK and Germany, also performed satisfactorily.
“2011 has also started well for the JCB Group but we are still mindful of economic concerns which could hold back the recovery. We continue to invest in our manufacturing facilities, notably this year in India and Brazil and, of course, in new products, with 13 new machines launched so far in 2011.”
This year JCB is investing more than £20m in modernising and increasing capacity at its 11 UK plants. It is also building a new 350,000 sq ft factory in Sao Paulo, Brazil, for production of backhoe loaders and tracked excavators.
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