Company directors express optimism about further growth in revenue and profit.

For the year to 31st December 2017, Sambro International reported turnover of £71.96m compared to £71m the previous 12 months. Sales in the UK accounted for the majority of income, rising from £36.5m to £38.2m. European revenue slowed from £32.8m to £30.7m, while the rest of the world contributed £3.08m.

Pre-tax profits were also up from £2.096m to £4.1m.

In a strategic report accompanying the results, Sambro noted that there had been “many reports of problems” faced by well-known UK and European retail groups, which “emphasises the current retail market challenge”.

Against this backdrop, the company said it had made “steady progress” with sales growth being attributed to securing new business in most territories. The drop in European income was “largely due to a sluggish Spanish market”, where the best-selling licence of 2016 had declined in popularity.

Looking ahead, Sambro stated: “The business continues to focus on owning its own sales channels in core European markets, driving up product quality and creativity, and improving our supply chain and speed to market.”

“The new presence in Germany, Italy and expansion in Benelux and London make the business well positioned to mitigate the potential consequences of Brexit and to take advantage of any opportunities that may arise. The business has built a scalable platform for future growth. The directors are satisfied with the state of affairs of the company, are optimistic regarding growth in both revenue and profitability, and remain focused on the strategy of delivering organic growth.”