JCB sees profits and sales slip in 2015

JCB achieved underlying earnings before tax of £214 million during 2015 despite difficult market conditions in most developing markets around the world and slower than expected growth in North American and European markets.

The figure for the Staffordshire-based digger giant, before one-off restructuring costs of £10m, was down from £303 million a year before and sales turnover was down from £2.51 billion in 2014 to £2.34bn with total machine sales down from 64,028 to 59,844.

JCB chief executive Graeme Macdonald said: "JCB's trading performance during 2015 was resilient in the face of a further deterioration in market conditions around the world, particularly in the economies of Brazil, Russia and China. The global market is still uncertain and fragile during this year."

JCB chairman Lord Bamford said: "In spite of difficult market conditions, we remain positive about the future. Recent product launches are proving to be very successful, particularly the revolutionary new JCB Hydradig, designed and engineered specifically for use in congested urban environments."