Fife cabling company Brand-Rex, now known as Leviton, saw its pre-tax profits increase by more than 11% last year as sales grew across Europe.
The firm saw pre-tax profits rise from £6.1 million in 2017, to £6.8m for the year ending December 31 2018.
Turnover jumped from £78.1m in 2017 to £86.7 in 2018.
The group, which has its European headquarters in Glenrothes, designs and manufactures high-speed copper and fibre-based cable and connectivity systems for IT and data communications.
The firm also manufactures cabling for extreme environments, across a range of sectors, including military, rail, automotive and aerospace.
A brand transitioning programme during the year saw the company position the Leviton brand as the principle name of the group.
In the company’s annual accounts, managing director Ian Wilkie said the group had seen significant sales growth in the data communications sector “in almost every country” throughout Europe, driven by an “increasingly successful approach to large data centre projects.”
Rising demand from existing customers for the firm’s high performance cables also delivered strong growth, which was boosted by the acquisition of new customers, with plans in place to increase sales in the automotive, marine and industrial markets.
However, the firm warns that the UK’s decision to leave the EU will undoubtedly have an impact on the business and while the extent of the impact is not known, directors will continue to monitor the situation.
Mr Wilkie, said: “The group remains ambitious for continued growth but expects market conditions and the uncertainty surrounding Brexit to restrict opportunities in some areas.”
The firm also saw an increase in employee numbers, rising 312 in 2017, to 343 last year, with the majority working in production – bringing a total wage and salary bill of £12.6m.
Across geographical markets, the UK last year amounted to £19.3m, however, the rest of Europe including Russia was by far the largest market for the firm at £51.1m.
The USA accounted for less than £1.5m of the company’s turnover, while Asia and Australasia brought in £6.1m.
Leviton also conducts manufacturing, distribution and research and development from Leigh in Lancashire.
Brand-Rex was acquired by Leviton, a leader in network connectivity systems based in the United States, in December 2015.
jimillar@thecourier.co.uk