News : Bumper profits for Jaguar Land Rover
Jaguar Land Rover has posted record results for 2013, with a £2.5bn pre-tax profits for year-ending April 2014 – an improvement from £1.67bn the previous year. Overall revenue is also up from £15.78bn to £19.38bn – a remarkable turn-around in fortunes for the company since it was sold to Tata in 2008.
The Jaguar Land Rover success story seems to be one borne from a product-led recovery, with demand for the new portfolio of models, including the Range Rover, Sport, Evoque and Jaguar F-Type running at unprecedented levels.
During the year, the company sold 434,311 cars and it’s now in an all-out scramble to improve capacity and introduce more models at the lower-end of the range. The true turning point will be the Jaguar XE, which is set to make its debut at the Paris Motor Show later this year.
These results represent four years of record-breaking profitability for Jaguar Land Rover and the company is keen to continue the trend. Jaguar Land Rover Chief Executive Dr Ralf Speth said: ’2013/14 has proven to be a solid year for Jaguar Land Rover, based on the demand around the world for our engaging products including the Range Rover Sport and F-Type Coupe.
‘Together, these activities have driven a solid financial performance for the company which continues to deliver on its strategic growth plans. These plans will see us invest in 50 new product actions over the next five years supported by our nurturing parent Tata Motors.’