Jaguar Land Rover (JLR) recorded a 17 % decrease in a quarterly profit, decreased to 523 million pounds in the last three months of last year, even when the car group achieved its best revenue in the third quarter. The company’s sales for the period increased by 2 % year on an annual basis to 7.5 billion pounds.
However, over the first nine months of its financial year, the total revenue remained fixed at 21.2 billion pounds.
Despite the separation decline, JLR said that the profits it faces increased by 7 % to 1.6 billion pounds, which I described as its strongest performance at this stage of the year a decade. The results follow the launch of a JLR 00 electric vehicle of JLR in December-a unveiling of the veil that attracted global attention.
Meanwhile, the waiting list for the first electrical set from JLR reached 57,000 requests. SUVs are scheduled to reach the market later this year. ADRIAN MARDell, CEO of JLR, noted that the company has achieved “revenues in the third quarter” and the best profit margins seen in a decade. He stressed that despite the “difficult economic background”, the company is on its way to achieve its profitable goals and the goals of the cash flow for this year.
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