Record results for Jaguar Land Rover
VEHICLE manufacturer Jaguar Land Rover has announced record results as global demand for its vehicles continues to grow.
The Indian-owned group employs around 3,000 staff at Halewood, Merseyside, where it makes the Evoque and the Discovery.
Retail volumes for the full year to March 31, 2014 were up 16% at 434,311, with Jaguar up 37% and Land Rover 12%.
Revenue for the full year stood at £19.4bn, up £3.6bn on 2013. EBITDA stood at £3.3bn, up £1bn, with an EBITDA margin of 17.5%, up 2.7ppt on 2013. Pre-tax profit was £2.5bn, up £827m.
The declared divided of £150m will be paid out next month.
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.”
Land Rover retail volumes were up by 38,000 units globally, a 12% improvement on 2013, a figure which the company said reflected the popularity of the new Range Rover and Range Rover Sport, together with the continued popularity of the Evoque.
Jaguar volumes were up by 21,000 units on 2-13, a rise of 37%. This rise has been attributed to the new F-Type sports car but also the XF Sportbrake and new all-wheel drive options for the XF and XJ, which have proved popular in many export markets.
