The Staffordshire plant manufacturer reported a 37% surge in turnover to £2.75bn last year with underlying profits soaring from £235m in 2010 to £355m.

A wold wide factory investment programme to meet rising demand lifted sales a third to 69,100 units last year.

Chairman Sir Anthony Bamford said: “While we are mindful of the continuing economic and political uncertainties in some parts of the world, JCB’s ongoing investment in its 22 global factories, coupled with the biggest product launch programme in our history, means we are well placed to seize new opportunities for growth and deliver another strong performance in 2012.”

JCB said it will unveil a total of 66 new products for global markets in 2012.

The family-owned firm has factories in China, India, the US, Germany and Brazil, but most of its staff work in the UK in plants in Cheadle near Stoke-on-Trent, Rugeley in Staffordshire, Wrexham and at Foston near Derby.