Specialist retail chain Printing.com said it sees significant progress in the year ahead after it reported a 60 per cent increase in pretax profit for the year to the end of March.
The company turned in a profit before tax of £2.41 million, up from £1.51 million on turnover of £12.34 million, up from £10.72 million.
Total retail sales - the estimated value of invoiced sales - were £18.22 million, a 26.2 per cent rise from £14.44 million in 2005.
Chairman George Hardie said the development of the company had continued to gain significant momentum.
He said the increase in TRS reflected the growth in the size of the company's network, with 166 outlets open or pending at the year end, compared with 119 in 2005.
The number of outlets open or pending since the year end had increased by six to 172. Mr Hardie said the board "believes that the current year will again be one of significant progress".
The business has about 20 outlets - including bolton franchises - in the West Midlands, chief executive Tony Rafferty said.
Recent new sites in the region included operations near Yardley, at Hagley Road in Birmingham, and one in the process of opening in Sutton Coldfield.
Mr Rafferty said the business would continue to seek an expansion of its bolt-on franchise network.
Shareholders were rewarded with a 250 per cent increase in the total dividend for the year to 1.75p after a 1.25p final payout. The total dividend in 2005 was 0.50p.
The company closed the year with cash reserves of £3.45 million up from £2.86 million.
Mr Rafferty said the business had exceeded analysts forecasts in terms of dividends.
He said the granting of a master franchise licence to an established printer in other countries was central to the company's international expansion plans. The printer would then be able to "exploit the Printing.com model in their territory".
He said: "We are delighted to report that the first such master franchise agreement has been granted for New Zealand to Astra Group."
The agreement also included an option covering Australia.
