(Pictured: JCB CEO, Graeme Macdonald)

Staffordshire-based company, JCB have enjoyed a record-breaking set of results for 2018, revealing that the company's sales turnover has increased by 22% in 2018.

JCB demonstrated strong business growth in 2018, with a remarkable 22% rise in sales turnover - up to £4.1 billion, from £3.35 billion (2017) - with machine sales increasing to 96,246 units (2018), from 75,693 units the previous year.

However, bosses at the company have warned that growth has already stalled in some of JCB's main markets - including India, which was its largest market in 2018.

JCB's CEO, Graeme Macdonald said:

"2018 was a very strong year for JCB, during which the global construction equipment market grew by 18 per cent to an all-time high of one million machines."

"JCB outpaced this growth by increasing its sales revenue by 22 per cent last year, which was a very significant achievement. However, this growth has now stalled, with many markets softening this year, particularly the Middle East, Turkey, Latin America and India."

"We continue to make strategic investments in new product development and new manufacturing capacity to ensure that JCB is ready to capitalise on future long-term growth opportunities."

JCB - who's world headquarters are based in Rocester, Staffordshire - are currently undertaking a series of significant investments, including a new £65 million factory in India, which is due to open next year, and a new £50 million factory in Uttoxeter which is expected to open its doors in the autumn.

JCB's Chairman, Lord Bamford commented: "The continued growth in global markets during 2018 has seen JCB production reach new peaks... As we approach our 75th anniversary next year, the pace of innovation remains relentless."

(Pictured: JCB Chairman, Lord Bamford and JCB's new electric mini excavator)

"Recent product launches, especially JCB’s electric mini excavator, puts the company in a strong position to tap into a growing demand for zero-emissions or ultra-low emissions equipment in the construction industry, particularly on urban job sites."

Click Here for the original story.

Edited by Josh Heath