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Jaguar Land Rover Automotive plc has today reported its second quarter earnings for the 2013/2014 fiscal year.
Retail sales in the quarter increased 21% year on year to 102,644 vehicles. This reflects strong demand for the new and refreshed Jaguar and Land Rover line up which was enhanced during this period by Jaguar's 14MY introductions, the sales debut of the Jaguar F-TYPE and Range Rover Sport and a strong Range Rover performance.
Strong global sales volumes resulted in revenues of £4,612m for the second quarter, up 40% on the same period last year.
Profit before tax increased to £668m for the quarter supported by strong sales.
For the first half of the 2013/2014 fiscal year the company reported retail sales of 197,363, up 16% year on year. Revenues were £8,709m, up 26% year on year and profit before tax was £1,083m, up 42% year on year.
Commenting on the results, Jaguar Land Rover Chief Executive Officer, Dr. Ralf Speth said: "Our unrelenting focus on design, technology, innovation and quality has seen Jaguar Land Rover reach global consumers in more markets than ever before thanks to its most engaging product line-up.
"Our customers are at the heart of everything we do and we remain committed to exceeding expectations and delivering outstanding customer experience in all areas of our business."
Notes to editors:
Jaguar Land Rover:
- Jaguar Land Rover has been named Responsible Business of the Year by Business in the Community (BITC).
- Jaguar Land Rover has ambitious plans for sustainable growth and profitability.
- Jaguar Land Rover will invest circa £2.75bn in its products and facilities in the financial year to March 2014.
- Jaguar Land Rover is one of the UK's largest exporters generating in the region of 85% of its revenue from exports.
- In 2012, Jaguar Land Rover sold 357,773 vehicles, up 30%
- In the 12 months to 31 March 2013, Jaguar Land Rover generated profit before tax of £1.675bn with revenues of £15.8bn.
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