"We said last year we would focus on expanding our franchise base, and that's what we've done," chief executive Tony Rafferty said.

His company saw 51 new outlets open over the year and the successful launch of Printing.com France. Plans to set up operations in Australia are also still on track, he said.

Printing.com, which has 261 outlets in the UK and Ireland, reported a sales rise of more than 15% to £24.5m in the year ending in April.

Preliminary results revealed an 11% increase in turnover to £13.5m and profit before tax was up nearly 6% to just under £2.5m.

"In this uncertain economic climate, a lot of small printers are putting off big capital investments and buying a slice of our action," he said.

Printers spent an average of £6,000 to £7,000 for a "bolt-on franchise", and Rafferty's company spent £30,000 a month tweaking software to "make life easier" for printers to detail and confirm orders, and to add up payments.

"Who knows if we will see the same size of expansion next year given the economic conditions? But we will seek to push forward and are cautiously optimistic."

Earnings per share rose 2.5% to 3.64p and dividends went up 20% to 3.00p.