Forest management company Scottish Woodlands has posted a strong rise in annual profits.
Turnover in the year to 30 September rose by nearly £1m to £70.3m, while pre-tax profits were up just under 20%, at £1.75m.
The company attributed the results in part to the strengthening of the euro after Brexit, which had made domestic processors more competitive.
Scottish Woodlands is 80% owned by its employees.
It is headquartered in Riccarton, Edinburgh, and runs offices across Scotland, as well as in England, Wales and Northern Ireland.
Scottish Woodlands, which employs more than 140 people, is currently celebrating its 50th year in business.
To mark the anniversary, it has planted a "celebration woodland" of 50 new trees on the grounds of long-standing client Crieff Hydro.
The firm has also published a book which recalls the company's history.
Managing director Ralland Browne said: "It is striking how our own history has mirrored that of forestry in Scotland.
"We became a commercial company in 1967, the year of the last Forestry Act - and as we turn 50, a new Forestry Bill is coming before the Scottish Parliament.
"There have been ups and downs along the way, but the company and the wider forestry and wood-processing industry are both in good health in 2017 - and we are optimistic for the future, with a strong focus on driving up tree planting rates."