Perthshire-based plant hire firm Morris Leslie invested a record £66 million on new fleet last year.
The company, which moved its head office from Errol to the former Edrington building in West Kinfauns last year, saw its revenues increase by 6.6% to £93.4m for the year ending April 30.
Part of the sales rise was attributed to its acquisition of Surrey-based Chertsey Plany Hire Limited, which added around 500 machines to its fleet.
However, pre-tax profits dropped from £3m in 2018 to £1.3m last year which group operations director Graham Ogilvie said was related to Brexit uncertainty.
He said: “We are pleased to see turnover grow year on year again.
“However continued uncertainty around Brexit and subsequent delays in construction projects did impact our performance during the period and into the current trading year.”
As well as the plant hire business, the company’s interests also include plant sales, motor vehicle auctions, the provision of self-storage facilities as well as renting commercial and residential properties.
Morris Leslie Plant Hire is both JCB & Manitou’s largest UK customer and runs the second largest telehandler fleet in the UK.
Mr Ogilvie said the young age of its plant hire equipment gave the firm a competitive advantage.
“As a business we like offering our customers the most modern fleet so they have the most up to date product compared to our competitors – that gives us an advantage,” he said.
“It also means our operating costs are lower because we don’t have as many break downs and repairs.
“The more modern machines are also better for the environment which helps some of our national clients who have to meet green commitments.
“We only keep our machines for two years. When they come out of hire, we then have a sales team to sell them globally.
“We export equipment to more than 50 countries a year.”
Employee numbers from 316 to 341 during the year across all divisions.
Morris Leslie invested in excess of £1m fitting out a depot in West London.
Mr Ogilvie said the company had ambitions to grow its fleet further.
“We are confident that our strategy for growing the business is the right plan and we are continually winning new customers,” he said.
“Seven years ago we had 500 machines.
“This year we have circa 4,500 machines and we are looking to grow our items to 6,000 items.
“There will be continued growth and we are looking at growth opportunities as they arise.”