JAGUAR SEES STRONG GROWTH IN NEW MODEL SALES

  Jaguar Plc &lt;JAGR.L> is about to sell its
  new XJ-6 model on the U.S. And Japanese markets and expects a
  strong reception based on its success in the U.K., Chairman Sir
  John Egan told a news conference.
      Commenting on an 11 pct growth in 1986 group turnover to
  830.4 mln stg and pre-tax profits at 120.8 mln stg, slightly
  below 1985's 121.3 mln, Egan said Jaguar aimed at an average
  profit growth of 15 pct per year. However, the introduction of
  the new model had kept this year's pre-tax profit down.
      Jaguar starts selling XJ-6 in the U.S. In May and plans to
  sell 25,000 of its total 47,000 production there in 1987.
      U.S. Sales now account for 65 pct of total turnover,
  finance director John Edwards said.
      A U.S. Price for the car has not been set yet, but Edwards
  said the relatively high car prices in dollars of West German
  competitors offered an "umbrella" for Jaguar. He added the XJ-6
  had also to compete with U.S. Luxury car producers which would
  restrict the car's price.
      Jaguar hedges a majority of its dollar receipts on a
  12-month rolling basis and plans to do so for a larger part of
  its receipts for longer periods, John Egan said.
      In the longer term, capital expenditure will amount to 10
  pct of net sales. Research and development will cost four pct
  of net sales and training two pct.
      Jaguar builds half of its cars and buys components for the
  other half. The firm is in early stages of considering the
  building of an own press shop in Britain for about 80 mln stg,
  but Egan said this would take at least another three years
      On the London Stock Exchange, Jaguar's shares were last
  quoted at 591p, down from 611p at yesterday's close, after
  reporting 1986 results which were in line with market
  expectations, dealers said.
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