Construction machinery manufacturer JCB has posted pre-tax profits 150% ahead of this time last year.
Profits last year were £235m compared to £94.5m previously, with sales also up 50% to more than £2bn. JCB sold 51,600 machines last year compared to 36,000 the year before
The firm said it had now restored most of the 1800 jobs that were lost during the recession
JCB chairman Sir Anthony Bamford said: “We started 2010 cautiously optimistic about trading prospects and I’m delighted that our optimism was rewarded with a very strong result for the year.”
He added: “2011 has also started well for the JCB Group but we are still mindful of economic concerns which could hold back the recovery.”