Nottingham-based Joseph Merritt plc (
www.merritts.uk.com), a machinery-moving specialist that employs 42 people, has announced a rise in both revenue and profits for the financial year ended June 2018.
Its revenue increased by £1.56 million — to £5.52 million — and its profits more than doubled — from £320,000 to £870,000.
Managing director James Merritt said: “It has proved to be a very successful year, following a number of changes at board level.
“We appointed finance director Alan Cundy, and I moved to a more customer-facing role. This has improved cost control and operational efficiencies.”
Finance director Alan Cundy said: “A significant programme of capital investment started in 2018 will continue into 2019 and beyond.
“This will assist us in meeting the growing demand for machinery relocation services within the UK and Europe.”
In 2018, the company invested more than £1.4 million in new plant and equipment.
This included four Scania S500 tractor units, four customised Mercedes Benz Sprinter vans and four Hyster fork-lift trucks.
A £100,000 Nooteboom low loader is also on order. As part of its expansion plan, the company is aiming to increase its revenue to £10 million by securing more global machine-moving projects on behalf of manufacturers selling new machinery to UK-based companies.