	jaguar sees strong growth in new model sales jaguar plc jagr l is about to sell its new xj 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 pct growth in group turnover to mln stg and pre tax profits at mln stg slightly below s mln egan said jaguar aimed at an average profit growth of pct per year however the introduction of the new model had kept this year s pre tax profit down jaguar starts selling xj in the u s in may and plans to sell of its total production there in u s sales now account for 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 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 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 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 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 p down from p at yesterday s close after reporting results which were in line with market expectations dealers said reuter 
