The Tata-owned automotive company is expected to post record profits of around £1.5bn today, after growing substantially in emerging markets and investing heavily in UK-based hi-tech facilities.
The projected pre-tax profits will set a new record, far above the the £1.15bn made last year. Not only is the news good for the company itself, but it benefits the hundreds of small to medium sized businesses in its supply chain.
The global popularity of the company’s vehicles is the driver behind its success, but the firm has managed to turn the business around from one that only two years previously was about to sell a huge West Midlands-based site.
The Range Rover Evoque in particular has proved to be an extremely successful model with consumers globally. It has become a status symbol in emerging economies such as China and India, and as middle classes in both countries grow, profits are expected to keep rising.
Jaguar Land Rover is currently developing a new £355m engine plant at the 154 acre site in south Staffordshire, and has signed a joint venture agreement with the Chinese automotive company Chery.
The company is recruiting thousands of workers to meet the exponential growth in demand for its products, and is said to be designing and developing a number of new models.