JCB achieved underlying earnings of £214 million in 2015, an £80 million drop from the previous year.
Sales turnover was £2.34 billion, down from £2.51 billion the previous year and total machine sales fell from 64,028 to 59,844.
JCB CEO, Graham Macdonald, said the company’s trading performance in 2015 was “resilient in the face of a further deterioration in market conditions around the world, particularly in the economies of Brazil, Russia and China.”
The company said market conditions in most developing markets in 2015 were “difficult” and growth in North American and European markets was “slower than expected,” while there was an overall drop of 14% in the global market for construction equipment.
JCB Chairman, Lord Bamford, commented, “In spite of difficult market conditions, we remain positive about the future. Recent product launches are proving to be very successful, particularly the revolutionary new JCB Hydradig, designed and engineered specifically for use in congested urban environments.”