The Tata Motors-owned group reported a fall in annual pre-tax profits to £1.5bn from £1.6bn, while a tough final quarter saw profits almost halved from £676m to £364m.
Nevertheless, net revenue rose 4% in Q4 to £7.6bn and by 6% for the full year to £25.8bn.
Annual sales grew 1.7%, with the company selling 614,309 vehicles. It was helped by strong demand in China, which partially offset tough markets in the UK and Europe.
Sales rose almost 20% (19.9%) in China, with North America up 4.7% and other overseas markets up 3.4%. In contrast, sales in the UK declined by almost 13% (12.8%), with the rest of Europe down 5.3%.
The fall in UK sales has been blamed on continued uncertainty over Brexit and the governments policy on diesel engines for putting off new buyers.
Where sales increased, demand was driven by new models, including the latest Land Rover Discovery, the award-winning Range Rover Velar (World Car Design of the Year), the long-wheelbase Jaguar XFL in China and continued solid demand for the Jaguar F-PACE.
During the year, the company invested more than £4.2bn in the development of new models and technologies and for 2018/19 it has vowed to increase this to £4.5bn.
Dr. Ralf Speth, Jaguar Land Rover CEO, said: Despite external headwinds, these results reflect the underlying strengths of Jaguar Land Rover. Sales have reached a new high, as strong demand in our key overseas markets offset the challenging conditions in the UK and other parts of Europe.
Our sustained growth and business resilience reflects the support we have received over the past 10 years from Tata. As we mark this important milestone and as we shape our future, we will continue with over-proportional investment in new vehicles, manufacturing facilities and next generation automotive technologies in line with our Autonomous, Connected, Electric and Shared strategy to provide our customers with the next generation of Jaguars and Land Rovers.
We are confident of our plans to drive robust growth and efficiencies to ensure that we continue to deliver solid results and generate sustainable profitable growth to support continued investment with positive free cash flows in the medium to long term.