A West Midland digital photographic business is set to grow its sales by nearly 70 per cent after being taken over by a German group.
Standard Photo-graphic of Leamington Spa recorded a turnover of £4 million in 2005, according to figures from parent group CeWe Color, which acquired the company last October for an undisclosed sum.
CeWe yesterday predicted that Standard Photographic's turnover this year will reach nearly £7 million following a £2 million redevelopment programme.
CeWe, which employs 3,700 staff at 20 high-tech photofinishing plants in 19 European countries, said group pretax profits rose by 80 per cent to 25.5 million euros (£17.4 million) last year.
The company, based at Oldeburg, Germany, said the increase was attributable to enhanced levels of productivity.
Sales last year rose by just under one per cent to 431 million euros (£295 million).
"Growth was generated in central eastern Europe as well as in Germany and Austria, where CeWe benefited from the withdrawal of major competitors," the company said.
Standard Photo-graphic provides photo-graphic services for high street retailers such as Tesco, Asda, Boots and Jessops as well as Pixology and Fujifilm London.
The investment involves the installation of fully automated lines purpose built for digital images.
CeWe says its new acquisition is well placed to benefit from the expansion of the British digital market at a time when other photo labs are closing down or contracting.
