Jaguar Land Rover has declared a profit of £431m before tax in the second quarter for the 2012/2013 fiscal year (Q2FY13). This depicts 100 percent increase as compared to the same period last year (2011/2012) which was £216m.
The number of vehicles sold globally are 84, 749 in the second quarter which reflects a 29 percent increase in retail sale volumes. The company has accomplished revenues of over £3.2bn (which depicts an increase of £373m).
Dr. Ralf Speth, JLR Chief Executive Officer, said: "Jaguar Land Rover has delivered another quarter of positive results against a challenging economic backdrop. We continue to see strong sales across all of our key markets. Jaguar Land Rover will continue to invest in its products, plants and will drive further growth by spending in the region of £2bn across the financial year. In the third quarter, we will see the first customer deliveries of the all-new Range Rover along with the introduction of the Jaguar XF Sportbrake and all-wheel drive versions of the Jaguar XJ and XF."
The investments and ambitious growth plans are further supported by the 8000 new jobs which have been created by Jaguar Land Rover in the last couple of years. In order to support the increase in demand for its products worldwide, JLR moved to three shifts at both its Halewood and Solihull plants in the first half of the financial year.
Jaguar Land Rover is in the top 10 across all sectors of the British economy. It invests a huge amount in research and development.