Page last updated at 13:46 GMT, Tuesday, 3 June 2008 14:46 UK

JCB sees most profitable year yet

JCB manufacture
The firms headquarters are in Rocester

JCB has announced pre-tax profits of 187m for 2007, making it the most successful year in its 62-year history.

The firm, which has its headquarters in Rocester, Staffs, said machine sales were up 31% to 72,000 last year.

However, JCB chief executive Matthew Taylor warned trading conditions in 2008 would "continue to be difficult because of the credit crunch".

He said there were signs a downturn in the US construction market was spreading to some parts of Europe.

"The recent high growth rates in some of the emerging markets are also now showing signs of slowing," he added.

Emerging markets such as India, Poland and Russia and South America, provided the main source of business growth for JCB in 2007.

Company chairman Sir Anthony Bamford added that although 2008 looked "challenging" he believed the firm was "well-placed to adapt to these difficult conditions."

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