JCB set records for turnover, machine sales and earnings in 2018 as global markets for construction equipment and agricultural machinery remained strong. The Staffordshire-based company revealed that its sales turnover in 2018 rose by 22% to £4.1bn, while machine sales increased to 96,246 up from 75,693 in 2017.

JCB CEO Graeme Macdonald said: “2018 was a very strong year for JCB, during which the global construction equipment market grew by 18% to an all-time high of one million machines. JCB outpaced this growth by increasing its sales revenue by 22% last year, which was a very significant achievement. However, this growth has now stalled, with many markets softening this year.”

JCB chairman Lord Bamford said: “The continued growth in global markets during 2018 has seen JCB production reach new peaks. As we approach our 75th anniversary next year, recent product launches, especially JCB’s electric mini-excavator, put the company in a strong position to tap into a growing demand for zero-emissions or ultra-low-emissions equipment in the construction industry, particularly on urban job sites.”

India remained JCB’s largest market in 2018 and this year marks the 40th anniversary of JCB India. JCB has 22 factories around the world, including 11 in the UK.