Profits dropped 20.63% year-on-year for the three months to end of year, but were up across the final nine months of 2012 at UK-based Jaguar Land Rover Automotive ahead of a 10-year bond issue in January.
Profit before tax for the quarter ending 31 December was £404m, down from £509m for the same period in 2011 but above the 2010 level of £296m. From the end of March to the end of 2012, profit before tax at Jaguar Land Rover was £1.2bn, up by around a fifth on the £976m in the same period of 2011.
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Quarter-on-quarter profit before tax was down 6.26% on the second quarter of the fiscal year for the luxury British carmaker, owned by Tata Motors of India and which runs its UK finance through FGA Capital.
A statement by the company said the $500m (£323m) raised by the bond issue would be invested in growth and capital expenditure.
Revenue for the quarter was given as £3.8bn compared to £3.75bn for the same period in 2011 and £2.65bn in 2010. Revenue for the first three quarters of the fiscal year was £10.7bn, up from £9.37bn for the same period 2011 and £7.14bn in 2010.
Further data and comment regarding manufacturer full-year results will be published in the March issue of Motor Finance magazine.
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By GlobalDatarichard.brown@timetric.com
