JLR Earnings Report Reveals Biggest Profit In 6 Years

Times are good over at Jaguar Land Rover after the carmaker reported its highest quarterly profit in six years, fuelled by higher client orders and an increase in wholesale revenue.

The company reported revenue of £7.4 billion for the three months ending December 31, which represented a profit before tax and exceptional items (PBT) of £627 million.

A statement released by the manufacturer said the growth “reflects favourable volumes and reduced chip costs, offset partially by unfavourable fixed marketing, administration and FX revaluation compared to a year ago”.

The good news continues a trend that has seen JLR record a hefty PBT of £1.4 billion in the financial year April 2023 – 2024. This translates to a projected 8.3 per cent, which would exceed the seven per cent target set previously. All eyes will be on the next earnings report.

Chief executive Adrian Mardell said: “We have delivered a further outstanding financial performance in quarter three, with our best quarterly profit for seven years and our highest ever revenue for the first nine months of a financial year. 

“Sales of our modern luxury vehicles hit new records in the quarter, and we are excited about the strong client interest for our soon-to-launch Range Rover Electric.

“I must attribute these results to our talented and dedicated people, who work relentlessly to bring our exceptional modern luxury cars to the market.”

So the future is bright for JLR, which is a far cry from gloomy days of 2021-2022 when the car-maker reported an annual pre-tax loss of £412 million.

Back then, the future was anything but certain, but thankfully the manufacturer has managed to weather the storm caused by the pandemic to bounce back with some impressive numbers.

Do you own a Range Rover or Land Rover vehicle? If so, we offer a range of repair services. These range from standard services to full engine rebuilds, so speak to us today if your vehicle needs some work.

Leave a Reply