A Fife-based cabling company saw turnover increase to more than £90 million as it announced a successful American acquisition.
Leviton, which has its European headquarters in Glenrothes and a facility in Lancashire, designs and manufactures high-speed copper and fibre-based cable and connectivity systems for IT and data communications.
The firm also makes cabling for extreme environments, across a range of sectors, including military, rail, automotive and aerospace.
Turnover at the firm rose to £90.7m for the year ending December 31 2019, a rise of 4.5%. However, pre-tax profits fell from £6.8m, to £5.1m over the period.
This week, the firm announced it had completed its acquisition of leading American fibre-optic and copper network cabling manufacturer, Berk-Tek, which has manufacturing facilities in Pennsylvania and North Carolina.
Leviton’s president and chief operating officer, Daryoush Larizadeh, welcomed the move.
He said: “Berk-Tek is a highly respected North American cabling company with exceptional manufacturing and product development capabilities.
“By adding Berk-Tek to the Leviton family, we provide truly end-to-end system solutions to our customers, with full integration across engineering, manufacturing, and network expertise.”
Across geographical markets, Europe, including Russia, delivered £56.5m of revenue, with the UK being the second-largest market for the firm, bringing in £19.2m.
The US accounted for £1.7m in turnover, while the Middle East and Africa brought in £7.5m.
The average monthly head count at the firm rose by seven over the period, to 350, with the majority employed in production.
Commenting on the firm’s annual report, managing director Ian Wilkie said the Covid-19 pandemic will “undoubtedly have an impact on our full-year 2020 results”, while the extent of the impact of Brexit “is still relatively unknown”.
Mr Wilkie pointed to an increased product range over the period, and investment in IT and research and development as part of the company’s growth strategy.
