Jaguar Land Rover Automotive plc has announced its financial results for the three months preceding 31 December 2023, a time period in which turnover was £7.4 billion, with growth of 22% compared to the same period of the year previous.
Revenue for the nine months to 31 December 2023 was £21.1 billion, JLR's highest ever in the first nine months of a financial year, and up 35% on the previous year.
Speaking of profit, before tax and special items (PBT), this was £627 million in Q3 FY24, JLR's highest quarterly profit since Q4 FY17, while EBIT margin in Q3 was by 8.8%: more than double that of the third quarter of FY23.
Finally, free cash flow was £626 million, and net debt was reduced to £1.6 billion.
“We delivered a further exceptional financial performance in the third quarter, with our best quarterly profit in seven years and our highest ever revenue for the first nine months of a financial year,” said Adrian Mardell, Chief Executive Officer of JLR - sales of our modern luxury vehicles reached new records in the quarter and we are thrilled by the strong customer interest in our upcoming Range Rover Electric launch."
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