Producers of concrete tools JCB has predicted that its sales and profits will both see improvement this year compared with 2009.
The firm remained profitable last year despite the recession, seeing its market share rise to a record high of 12.2 per cent.
Sir Anthony Bamford, chairman of the firm, said that the construction equipment industry has seen a "strong recovery" in the first half of 2010 in developing economies such as India, Brazil and China, although conditions in Western Europe and North America are still difficult.
However, the company has put £20 million into a new venture, producing a fresh generation of the backhoe loader, which has an excavator arm to the rear and a shovel at the front.
"Despite the economic difficulties, we continued to invest in new products, with 11 innovative machines launched so far this year," Mr Bamford commented.
JCB is one of the top three manufacturers of construction equipment globally and has been trading for 64 years.
Posted by Jonathan Gordon
The firm remained profitable last year despite the recession, seeing its market share rise to a record high of 12.2 per cent.
Sir Anthony Bamford, chairman of the firm, said that the construction equipment industry has seen a "strong recovery" in the first half of 2010 in developing economies such as India, Brazil and China, although conditions in Western Europe and North America are still difficult.
However, the company has put £20 million into a new venture, producing a fresh generation of the backhoe loader, which has an excavator arm to the rear and a shovel at the front.
"Despite the economic difficulties, we continued to invest in new products, with 11 innovative machines launched so far this year," Mr Bamford commented.
JCB is one of the top three manufacturers of construction equipment globally and has been trading for 64 years.
Posted by Jonathan Gordon