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Jaguar Land Rover announce record profits of £2.6bn

Jaguar Land Rover has announced record profits of more than £2.6billion.

Jaguar Land Rover cars lined up for export Credit: Chris Ison/PA Wire/Press Association Images

The pre-tax earnings for the year to 31 March are a rise of £113million on the previous year.

The company says it means they can invest in a long term future. They unveiled three new cars in the last year and opened their manufacturing centre in Wolverhampton.

Jaguar Land Rover has delivered five years of solid financial results, enabling us to invest in our long-term future. This has positioned the company strategically and financially for continued sustainable growth.

The past year has been one of significant achievement, with the expansion of our vehicle ranges and our manufacturing footprint.

We are committed to delivering further growth this year, maintaining our relentless pace of launching new models and introducing innovative technologies for our discerning customers around the world.”

– Ralf Speth, Jaguar Land Rover chief executive

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Jaguar Land Rover to open new facilities in Solihull

The workforce at the Solihull plant has nearly doubled in the past three years Credit: PA Wire

Jaguar Land Rover will officially open its brand new facilities at its Solihull plant today.

The plant will produce a Jaguar model, the new XE, for the first time in its 70 year history.

The Solihull plant will build the new Jaguar XE Credit: PA Wire

Last year the company announced plans to create 1,700 jobs to build the new sports saloon.

The workforce at Solihull has nearly doubled in the past three years with 9,450 people currently employed there.

Jaguar Land Rover in £400m Castle Bromwich investment

JLR will build its latest Jaguar XF at the plant Credit: Rui Vieira/PA Wire

Jaguar Land Rover is investing more than £400m at its factory in Castle Bromwich in Birmingham to build its latest Jaguar XF.

Later this week, Jaguar Land Rover will announce that it's spending hundreds of millions of pounds upgrading the Castle Bromwich factory, so it can build the new car which will be made from aluminium.

The factory nearly closed five years ago under Ford, before they sold the company to Tata.

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Miliband: Labour business policies help working families

Miliband launched Labour's plan at Jaguar Land Rover's plant in Wolverhampton.

Ed Miliband has warned that the Tory "long-term economic plan" is working for a "handful" of people at the top, while his rival vision would champion the needs of working families.

The Labour leader said:

Nothing more symbolises the current Government's failing plan than seeing the tax gap - between what should be paid and the revenue received - widening, while the number of apprenticeships available for young people is falling.

– Ed Miliband

He said just one in 10 employers in England offers an apprenticeship and there are "six times fewer high quality apprenticeships than in Germany".

Miliband continued:

It is time to match the aspirations of our young people with the high quality apprenticeships they deserve. So today I can announce: under the next Labour government, if you get the grades at 18, you will be guaranteed an apprenticeship.

– Ed Miliband

Exclusive: The secret meeting behind Tata JLR takeover

In an exclusive interview, the man who saved Jaguar Land Rover - the Indian billionaire Ratan Tata, has described a secret meeting in an airport hotel to secure the deal.

He said how he wasn't allowed to set foot in any of the factories while the negotiations were taking place and how Jaguar Land Rover will be staying and expanding in the Midlands.

Despite pumping £5billion into the business he says he's done very little to help the company - he just stood back and supported the workforce in doing what they do best.

He's been in the Midlands to open an engineering college and he spoke to Mark Gough.

Damaged Land Rovers driven off stricken cargo ship

Damaged cars including Land Rovers have been driven off the stricken carrier Hoegh Osaka in Southampton.

The 51,000-tonne ship has a cargo for 1,400 cars and 105 pieces of construction equipment worth a total of £60 million.

Of the 1,400 cars onboard, 1,200 were made by Coventry-based Jaguar Land Rover.

The carrier docked in Southampton Credit: PA

ITV News Meridian has filmed a number of damaged vehicles being removed today.

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