JCB announces record profits

Midlands based JCB has announced record profits for 2012.

The company’s earnings rose to £365 million making it the best year in the firm’s 67 year history.

JCB’s world headquarters are at Rocester in Staffordshire.

Chairman Sir Anthony Bamford said:

Today’s financial announcement from JCB comes as a study is published highlighting the full extent of the firm’s economic impact.

For every UK worker employed directly by JCB, a further three are employed in the country’s supply chain.

Research consultancy Oxford Economics has concluded that JCB supports 24,000 jobs in the UK. It has 6,000 staff, and a further 18,000 are employed by firms which supply JCB.

The study also found that JCB:

• Contributes more than £1.4 billion to GDP (Gross Domestic Product - the total value of the country’s goods and services)

• Spends £669 million on goods and services in the UK supply chain, £225 million (38%) of that is in the West Midlands, with £105m of the total spent in Staffordshire

• Generates £545 million to the Exchequer in tax revenues

• Accounts for 0.6% of all manufactured goods exported from the UK, worth £1.35 billion