Trunki profits up 51%
Magmatic, the owner of theTrunki children’s suitcase brand, increased its profits by 51% in 2018 following a strong international performance.
EBITDA rose to to £777,000 from £517,000 in the previous year.
Sales in the EU climbed by 22% following strong performances in France and Germany. It also entered a number of new markets, including Ukraine and Israel. International sales now represent 63% of the business compared to 57% a year earlier.
Meanwhile, Magmatic total sales rose to a record £9.5 million in the period.
Trunki’s suitcases and other travel products are sold on the company’s own website and through retailers such as John Lewis, Amazon, Argos, Boots and Halfords.
Commenting on the results. Rob Law, founder and chief executive of Magmatic, said: ‘We’re very pleased with our performance this year. We continue to make great strides in Europe, helped in no small part by our decision to buy our Plymouth factory in 2012 in order to manufacture many of our products in the UK. This has optimised our supply chain and made us even more nimble and responsive to the challenges of a fast-changing market.”
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