Magmatic, the company behind the Trunki brand, has posted strong international sales and moved back into profit.
The Bristol-based company, founded by Rob Law in 2006 and best known for its children’s ride-on suitcase, increased international sales by 17%, posting total sales of £9.3m for the year ending December 2017, in accounts soon to be filed at Companies House.
Growth across the EU was particularly strong, up by 29%, while Magmatic also experienced success in fast-growing markets such as China and Russia. International sales now represent 57% of the business with Trunkis having been sold in more than 100 countries worldwide.
The company saw earnings (EBITDA) rise to £517,000, compared to a loss of £110,000 the previous year.
Backed since 2013 by BGF, Trunki and Magmatic’s other range of travel products are sold in UK retailers such as John Lewis, Argos and Boots.
The latest results mark an impressive year for the company following a costly four-year legal battle which culminated in a disappointing Supreme Court ruling for Magmatic.
Rob Law, founder of Magmatic, commented: “We’re delighted to have swung back into profit and particularly pleased that our international growth continues apace. In challenging times, we have made great strides into new and existing territories where children around the world have been taking Trunki to their hearts. We look forward to extending our reach through strategic partnerships, particularly in markets such as the US.”