Car maker Jaguar Land Rover in top gear
THE car company behind the Jaguar, Land Rover and Range Rover brands has seen its profits power ahead thanks to the launch of sporty new models.
The Jaguar F-Type and latest Range Rover Sport helped boost sales at Jaguar Land Rover (JLR) Automotive in the three months to the end of March, as did increased volumes in emerging markets.
Figures released yesterday by Indian parent company Tata Motors showed that JLR made a quarterly operating profit of £920 million, up 12.2 per cent on a year earlier.
Revenues for the three-month period came in at just over £5.3 billion – a rise of 5.9 per cent – while for the year to 31 March they topped £19.4bn, up from £15.8bn.
The firm is one of the UK’s biggest exporters, with more than 80 per cent of its sales coming from business overseas. It builds cars at plants at Solihull and Castle Bromwich in the Midlands, and Halewood on Merseyside, employing some 25,000 UK staff.