JCB is celebrating record profits for last year.
Despite a decline in demand, sales in Africa and America have continued to grow for the Staffordshire-based company.
Business leaders say the company is vital to the economy, supporting more than 20,000 jobs in the UK.
John Willats reports.
The Midlands based firm JCB has announced its most successful year ever with profits of £365 million.
Research shows the Staffordshire based firm supports 24,000 jobs in the UK at its factories and across its supply chain.
John Willats reports.
Staffordshire firm’s profits rise to £365 million
The North Staffordshire Chamber of Commerce says JCB is a vital part of the Midlands’ economy.
The firm has announced record profits for last year, and a report has concluded the company supports 24,000 UK jobs.
JCB is a major UK exporter, and is based at Rocester in Staffordshire.
“It’s very good that at the moment there is a resurgence in manufacturing and the West Midlands are leading the way,” said Sara Williams, North Staffordshire Chamber of Commerce.
Report finds JCB supports 24,000 UK jobs
Olympus Engineering in Stoke-on-Trent supplies parts to JCB.
Around a quarter of all of its business is for the digger maker.
The engineering firm has links with JCB dating back more than thirty years. In recent years the company has expanded with a brand new heaquarters, helping to regenerate an area of Stoke-on-Trent which had been derelict.
MD Neil Blood described the cascade effect of business from JCB in the supply chain as phenomenal.
“JCB is 20-25 per cent of all our business, so 25 per cent of our employees are employed making parts for JCB.
"We in turn then buy materials from sub-suppliers so the cascade effect is quite phenomenal,” said Neil Blood.
Digger manufacturer supports 24,000 UK jobs
The Government says Midlands digger maker JCB is making a major contribution to UK manufacturing.
A study published today has concluded the firm supports a total of 24,000 jobs in the UK, both directly and in the supply chain.
It also generates £1.4 billion towards the UK’s total value of goods and services (GDP).
"Manufacturing is one of the key drivers of the UK economy, employing around 2.5 million people and generating over half of our exports," said Department for Business, Innovation and Skills.
"Successful businesses with a strong domestic and international reputation such as JCB are making a major contribution to the ongoing strength of the UK’s manufacturing capability and keeping UK industry ahead of the game with new innovative products and technologies.”
Digger firm announces most successful year ever
Staffordshire based JCB has announced record profits for 2012, at £365 million.
Speaking to ITV News Central, JCB Chairman said he was “very pleased” with the results.
“We’ve grown our market share and increased our profitability so we’re very pleased,” said Alan Blake, CEO of JCB.