JLR sales recover from cyber attack despite restructuring costs

Summarised from 2 outlets · Updated 13 Nov, 13:02 · Archive

Jaguar Land Rover reported revenues up a fifth in the third quarter following recovery from last year's cyber attack.

Jaguar Land Rover reported revenues of £5.9 billion for the three months to September, up a fifth compared with the same period last year. The company returned to profit before tax and exceptional items of £6 million for the quarter, swinging from a loss of £134 million a year earlier.

JLR's improvement reflects recovery from a severe cyber attack that forced production halts across its UK factories from September 2024 for five weeks. All manufacturing sites, including factories in Solihull, West Midlands, and Halewood, Merseyside, stopped production but restarted in October.

However, the company cautioned that profit margins would be slightly lower for the full year in light of ongoing market challenges, geopolitical risks and exceptional costs. JLR flagged a cost hit of £530 million including for restructuring and the write-down of assets. The company revealed in September that it was planning to cut 4,000 jobs across its global workforce over the next two years as part of efforts to slash costs by £1.7 billion.

How it is being reported

• JLR sales surge since cyber attack but restructuring costs weigh on earningsThe luxury British carmaker said its revenues were up by a fifth in the three months to September, compared with last year.Evening Standard · 13 Nov, 12:28
• JLR sales surge since cyber attack but restructuring costs weigh on earningsThe luxury British carmaker said its revenues were up by a fifth in the three months to September, compared with last year.Independent Business · 13 Nov, 12:28

In this story: Jaguar Land Rover · Solihull · West Midlands · Halewood · Merseyside

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