JCB strong but sees uncertain times ahead

JCB is strong but is unsure about the potentially uncertain times ahead.
Finance & Funding / September 25, 2023 1 minute Read
By Guy Woodford
JCB is seeing strong profits now but is unsure the market will develop

The Rocester, Staffordshire, England-headquartered global construction and quarrying machinery giant's sales turnover in 2022 grew to £5.7 billion (2021: £4.4 billion), and profit before tax grew to £557.7 million (2021: £501.6 million). Machine sales increased to 105,148 (2021: 95,650). The Group maintained a strong balance sheet with no net borrowings throughout 2022.

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."

Among major off-highway equipment manufacturers leading the way in alternative fuel-powered machines, JCB showcased its super-efficient hydrogen combustion technology internationally for the first time at CONEXPO/CON-AGG 2023 in Las Vegas (14-18 March).

JCB has been responsible for a series of industry innovations on its Road to Zero, leading the way in environmental, social and governance (ESG) for the construction equipment sector.

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