Jaguar Land Rover back in the black
28.05.2010 - Owen Ready
(35)
Despite the tough financial year behind us, Jaguar Land Rover has recorded its first year of profit since being bough by Indian giant, Tata.
JLR made a pre-tax profit of £32million in 2009/10 thanks to a combination of increased sales - 193,982 versus 167,348 in 2008/09 - and reduced expenses thanks to laying off 2,200 staff.
The company was also granted a £340million load from the European Investment Bank, which has been used to implement various streamlining measures throughout the group.
Models such as the new Jaguar XJ and revised Land Rover Discovery, Range Rover Sport and Range Rover as well as a sales boom in China have led to this healthy volume growth.
In China alone, Jaguar sales have increased by 38 per cent and Land Rover's by 55 per cent year-on-year. Overall group sales were up 25 per cent in the UK in 2009/10.
Despite its Indian ownership, many of JLR's suppliers and all of its design, engineering and manufacturing facilities are UK-based.
The company has confirmed its dedication to introducing less polluting models in the future including a whole raft of hybrids and a small, two-wheel drive Land Rover.
