JaguarLandRover Automotive plc (JLRA) has reported revenues of £15.8bn for the fiscal year ended 31st March 2013, up 17% year on year (£13.5bn last year).
Retail sales increased 22% to 374,636 vehicles, supported by significant product actions including the all-new Range Rover, Jaguar all-wheel drive XF and XJ and the XF Sportbrake.
The company generated positive sales growth in all regions: China up 48%, Asia Pacific up 27%, UK up 20%, Europe up 18%, North America up 9% and other overseas markets up 19%.
Profit before tax increased by 11% to £1.675bn for the fiscal year (£1.507bn last year).
Commenting on the results, JLR chief executive officer, Dr. Ralf Speth said: "The positive result for the financial year demonstrates that we have strong demand for our great, solid product portfolio all around the world. During this period Jaguar Land Rover unveiled major new products, the all-new all aluminium Range Rover and the Jaguar Sportbrake, the AWD XF and AWD XJ and the F-Type.”
Dr. Speth continued: “JLR has invested significantly in the product creation process, in our advanced manufacturing sites and created more than 3,000 jobs. This commitment is set to continue with a sustained programme of investment which will see us spend in the region of £2.75bn on new product, people and infrastructure in the year to March 2014.”
The company is one of the UK's largest exporters by value (£8.2bn in 2011) and generates in the region of 85% of its revenue from exports.
The figures might leave Ford Motor Company executives asking: "Where did we go wrong?" ∎
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