Jaguar Land Rover in record profits

Jaguar Land Rover in record profits

Car manufacturer Jaguar Land Rover has announced a record profit.

The company, which is based in the Midlands, said the figure for the year to the end of March was £1.5 billion.

Strong demand in China for its products, such as the Range Rover Evoque, is viewed as one of the key factors in its resurgence.

In total the firm saw profit boosted by 35% during the period in question, with a fifth of its cars now sold in Far East country.

JLR shifted some 314,433 vehicles, just shy of a third more than what it managed last year.

Revenues reached £13.5 billion, up on the previous period by 37%.

The UK still remains JLR's biggest market in terms of sales, but China and North America are fast catching up as they continue to show healthy growth.

From January to March this year, the firm sold nearly more than half the amount of cars it did during the previous equivalent period, with a rise in the amount going to China.

The firm's strong performances underlines a resurgence in the UK's car manufacturing industry as a whole.

For the first time since the 1970s, it is now raising more money from exports than imports.

Copyright Press Association 2012