Jaguar reports £1bn profits

Jaguar Land Rover is celebrating a turnaround in fortunes after the British car maker reported pre-tax profits of more than £1bn (€1.15bn).

The company, which is owned by Indian company Tata Motors, said profits increased to £1.1bn (€1.3bn) in the year to March 31, up from £14.6m (€16.8m) the previous year. Revenues increased 51% to £9.9bn (€11.4bn).