In the year to June 2003 the companys turnover grew 10% to 11.1m. However, its pre-tax profit fell 52% to 170,000 after it was hit by the strengthening of the euro and a 100,000 investment in a new audio/visual business.

Managing director Jeff Biggs said the results were good considering the downturn in marketing and retail expenditure.

He predicted that Colourgen would grow its turnover by around 23% to 14.5m this financial year, including a 12% growth in consumables and 18% in hardware.

The company expects to be able to supply some new products from January 2004, but is unable to disclose any details.

Colourgen distributes Epsons large-format range, Encads NovaJet printers, the Seiko I Infotech IP-450 and Tiara Systems Opal range.