The Belfast-based commercial printer, which has a turnover of £5m, purchased a 10-colour Lithrone LS1040P Perfector in 2008 and also added a Prism management information system, Kodak Prinergy workflow and Insite Storefront, MBO T960 Perfection buckle folder, a Heidelberg Stitchmaster ST 400, Screen PlateRite 8800Z and a Synergy Digit 76 laminator.

The company said that since installing the LS840P earlier this year, it had increased its turnover by 9%. Most of its clients are based in Northern Ireland while one third of its business is from the Republic of Ireland and a small proportion of its work comes from the rest of the UK.

GPS Graphics sales director Lorraine Bell said: "In the period leading up to Christmas we were so busy we had to turn work away. We had the choice of either investing in a second press or cutting our customer base. We now have the capacity for a turnover of £10m and we are aiming for steady growth."

The company has been aided in its investment programme with a grant of £333,625 from Invest NI, which is part funded by the European Regional Development Fund. The grant was contingent on GPS Graphics meeting certain targets which included taking on extra staff and increasing the company’s turnover.

GPS Graphics has taken on an extra eight employees since the start of its investment programme, to bring its total number to 55. It expects to hire an additional eight staff over the course of the next few years.

Bell added: "Obviously this is a huge investment but the business is profitable, the machines are state of the art and we are aiming for steady growth. This is how we felt we should move forward and so far it is working."