Vehicle manufacturer BMW has announced it secured a positive set of results last year, with the company reporting record data in the financial year 2012/13.

Group revenues rose by 11.7 per cent to €76.8 billion (£66.3 billion), while profit before tax was 5.9 per cent higher than the previous 12-month period at €7.8 billion and overall group profits were up 4.4 per cent to €5.1 billion.

As a result, the firm has now proposed a record dividend to shareholders of €2.50 per share of common stock.

"We have achieved or surpassed all of our targets for 2012 in the face of very challenging market conditions," stated Norbert Reithofer, chairman of the board of management at BMW.

The news follows a similar strong set of results for Jaguar Land Rover for February, with the company reporting a 27 per cent year-on-year increase in vehicle registrations during the month and an 18 per cent rise in figures for the year to date.

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