JLR returns to profit

Jaguar Land Rover Automotive plc‘s financial results for the three-month period ending 31 December 2019 show a pre-tax profit increase to £318million in the quarter. That represents a £591million year-on-year improvement versus the £273million loss in the third quarter of last year (before an exceptional non-cash asset impairment of £3.1billion in Q3 of the prior year). The improvement reflects a combination of the higher China volume, stronger product mix, lower operating costs and favourable foreign exchange.

Said Prof Sir Ralf Speth, JLR’s CEO, “In the third quarter, Jaguar Land Rover sustained yearon- year revenue and profit growth as we continued to transform our business. Conditions in the automotive industry remain challenging, but we are encouraged by the recovery in our China business and the success of the new Range Rover Evoque. Our proactive and decisive actions are creating a more robust, resilient business, transforming today for tomorrow.”

JLR returns to profit

JLR returns to profit

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