12:04 pm, February 12, 2016
JAGUAR Land Rover has posted lower pre-tax profits for the third quarter of 2015 than the last three months of previous year.
The figure was down 27 per cent on 2014, standing at £499m, after the company was hit by falling sales in China.
Revenues rose marginally year-on-year to £5.8bn, however. The decline in profits came despite the company selling a record 137,653 vehicles in the October-December quarter, up 23 per cent.
For the first nine months of 2015, pre-tax profit fell 55 per cent to £980m. The company lost £275m of stock in explosions last summer in the Chinese port of Tianjin.
Indian parent Tata Motors saw quarter three net profit fall two per cent year-on-year to £357m.
Jaguar is the UK’s biggest automotive employer, with more than 30,000on the payroll.
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