JCB posts pre-tax profits of £40m

Machinery manufacturer JCB recorded pre-tax profits of £40m on a turnover of £2bn for the year ending 31 December 2008. But tough market conditions in the construction industry saw it shed 1600 UK jobs.

JCB‘s agriculture division saw its sixth successive year of growth, with farming sales up 14% on the year, compared with a 15% shrinkage in construction business.

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