British machinery manufacturer JCB has revealed that its sales turnover in 2017 rose by almost 28% to a record £3.35bn (£2.62bn in 2016), while machine sales increased to 75,693 (66,011 in 2016).

The company’s earnings on an EBITDA basis rose by almost 19% to £341m (£287m in 2016). Since 1975, JCB’s average return on investment has been over 30%.

The market rebound has continued strongly in 2018, which has pushed JCB global production levels to more than 500 machines per day.

JCB chair Lord Bamford said: “The continued growth in global markets in 2018 has seen JCB production rates reach their highest in our history. Employment levels across our plants are also at record highs and we now employ more than 15,000 people.

“In the UK alone we have recruited almost 1,100 people this year, which is superb news for JCB and great news for British manufacturing”.

JCB has 22 factories around the world, including 11 in the UK and JCB’s UK plants now employ a record 7,600 people.

In June, JCB revealed it was investing £50m in a new British plant to manufacture cabs for its machines in Uttoxeter, Staffordshire. The factory is set to open in 2019.