Perthshire-based Morris Leslie Plant Hire has posted revenues of £49.121m in 2022/23 - an increase of over 10% from the previous year figure of £44.4m.
Profits before tax increased to £11.503m for 2022/23 (2021/22: £10.543m). Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 12.4% to £33.8m
Despite the economic climate, the business achieved these results on the back of improved hire rates and increased utilisation levels, coupled with a strong performance from the sales division in the UK and overseas.
Investment in the financial year exceeded £75m, maintaining the company's position as the largest and youngest low emission fleet in the UK.
As we reported, the assets and business of Harborough Hire Centre was purchased in March 2023, extending the Morris Leslie network to 15 sites and strengthening the company’s position in the Midlands.
Morris Leslie also placed a rather large order earlier this year - a cool £87.5m spent on machines from JCB. The deal was apparently the largest in JCB’s history, with 1000 machines purchased - including 50 backhoe loaders.
The Morris Leslie Group will shortly mark its 50th year of trading, after the founding chairman began dealing in used equipment sales in 1974. The company now supports jobs in Scotland and across the UK, with over 300 staff across 19 sites.