Jaguar profits leap by 34%
UK car manufacturing continues its resurgence with today's (29 May) announcement that Jaguar Land Rover has increased profits by 34% to £1.5 billion in the year to March 2012.
The company, which has announced a raft of new jobs recently including 1,000 at its Halewood factory, is enjoying strong demand for its Range Rover Evoque (pictured) and Freelander 2 models. Expansion is also taking place at the Castle Bromwich and Solihull plants.
The group exports 80% of cars made in the UK – for the year to March 2012, Chinese sales were up by 76% and sales to Russia were up by 38%.
JLR chief exec Ralf Speth said the results "give JLR the financial impetus to sustain its ongoing investment programme".
The car maker's fortunes have been turned around since it was bought by Tata Motors four years ago.
