The Glasgow-based building and farm machinery supplier lifted profits by nearly seven per cent to £4 million in the year ended December 31, beating its pre-recession profit record, as turnover increased from £103m to £117.2m.

Scot JCB posted profits of £3.8m in 2013 as housebuilding activity picked up following the recession, beating its previous record of £3.4m set in 2007.

Majority owner Steve Bryant told The Herald that he will be “ploughing” most of the profits made in 2014 back into the business.

And he said that trading conditions continue to be healthy in the firm’s current year, noting that he will be “disappointed if we don’t get to £125m” turnover this year.

Scot JCB has 12 depots in locations across Scotland and the north of England, with the four English sites now accounting for 20 per cent of its business.

Mr Bryant, who owns 90 per cent of the shares in Scot JCB, said: “The market is buoyant, our construction customers are very busy all over Scotland and the north of England, and we are getting the benefit of that.

“The downside is that the margins are under threat. We have suffered there a little bit.

“In our heyday before the recession of 2008 we were making 3.8 per cent – today that will be 3.4 per cent.

“While we are doing a lot more we are still marginally behind where we were in pre-recession teams in terms of profit retention.

“But we are in a good place and pushing on.”