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Jaguar Land Rover annual profit falls 99% after US tariffs and cyber-attack take toll

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Jaguar Land Rover annual profit slumped by more than 99% as it counted the cost of US tariffs and a cyber-attack that disrupted its factories for months. Britain’s largest carmaker made only £14m in profit before tax and exceptional items in the year to March, down from £2.5bn the year before, according to financial results published on Thursday. The manufacturer, which employs 33,000 people in the UK, suffered a series of blows as Donald Trump’s automotive industry tariffs caused turmoil in its important export market. That was followed by a damaging cyber-attack on the last day of August that forced the company to shut down most of its systems and factories for weeks, with disruption rippling on through the autumn. The tariffs, which Trump raised to 25% before agreeing a deal for 10% for the UK, hit US demand for JLR’s luxury cars, before supply of products was halted by the attack. As a result, revenues fell to £22.9bn, down by more than a fifth compared with the previous 12 months.…

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