FAMILY-owned Scot JCB (Holdings) has reported record profits and turnover amid buoyant conditions in its core construction and agriculture sectors, while unveiling its latest acquisition.
New accounts for the Glasgow-based firm show that pre-tax profits climbed 5.5 per cent to £4.37 million in the year ended December 31, which came as turnover rose 13.7% to £135.4m.
And the company is looking to build on that momentum further to its acquisition of Forfar-based AM Phillip Agritech, completed in April.
Scot JCB, which did not disclose the value of the deal, has taken on all of Phillip’s 80 staff and its five depots, boosting its overall headcount to more than 350. The company had already increased staff numbers to 274 from 240 during 2017.
With depots in Glenrothes, Perth, Fraserburgh, Forfar and Huntly, Phillip brought with it the JCB franchise for sector in Tayside and Forfar and the north east.
As with its acquisition of Kelso & Lothian Harvesters in 2014, Scot JCB will continue to trade from those depots under the AM Phillip banner.
Stephen Barker, finance director of Scot JCB, said AM Phillip was a good cultural fit for the company, with a “similar ethos”. Both companies were family owned and “built on customer service”.
Mr Barker said 2017 had seen strong sales of plant machinery and after-sales services in both agriculture and construction.
Asked whether the continuing Brexit uncertainty was affecting sentiment in the sectors, Mr Barker said although Scot JCB and its customers were observing events, “people are just getting on with things”.
He added: “Both sectors are pretty buoyant.”
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