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JCB hits top two in profits register

By UttoxeterPostandTimes.3522974.UttoxeterPostandTimes  |  Posted: April 17, 2014

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JCB has been placed second in a league table of UK private firms whose profits have spiralled in the last three years.

The global digger giant, whose world headquarters is based in Rocester, came second in the Sunday Times annual BDO Profit Track 100.

Uttoxeter’s biggest employer has now featured three times in the league table, which is compiled by networking company Fast Track.

The boost comes months after JCB announced a £150 million investment to expand and create 2,500 jobs by 2018.

It also sold its millionth machine last year and, under the stewardship of Lord Bamford, who was inducted into the House of Lords during 2013, profits have grown 169 per cent every year for the last three years to £288 million.

Paul Eagland, partner and head of professional services at BDO, the title sponsor of the league table, said big business in the UK was ‘bouncing back’.

He said: “Britain endured the longest recession within the G7, yet entrepreneurial businesses in the region and across the UK are bouncing back more strongly than their international counterparts.

“The nation’s most profitable companies have remained focused, positioning their businesses for - and helping to create - the economic recovery we are now witnessing.”

Online retailer The Hut Group, which deals with firms from a variety of sectors, topped the Sunday Times’ table.

Before Christmas, JCB revealed plans to replace its Rugeley Cab Systems factory with a new facility in Beamhurst.

The new factory, along with an expansion to facilities including the World Headquarters and a new Utility Products site in Cheadle, will create thousands of jobs near town.

It is thought that, for every job JCB creates, three will emerge in its UK supply chain, leading to predictions of 7,500 roles across the country by 2018.

In January, JCB announced ambitious plans to turn land surrounding the Rocester world headquarters into a top-quality 18-hole golf course.

Although it will initially be used exclusively by corporate partners, it could eventually be adopted on to the European Tour.

JCB bosses have declined to comment on the Sunday Times list.

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