In a trading statement released this week, Printing.com revealed its second overseas master licence had gone to Icelandic firm KVOS.

Printing.com chief executive Tony Rafferty said:  “KVOS dominates the Icelandic print market and has extensive interests in North America, Scandinavia and Eastern Europe.

“Who’s to say whether we’re able to work with them in another country, but they are a sizeable print outfit.”

Iceland will be Printing.com’s fourth overseas market, after its own operations in Ireland and France and its first overseas master licence, which went to New Zealand-based Astra Group.

In addition, the firm said the grant of its bolt-on franchise licenses within the UK and Ireland was “at a higher rate than in the previous year”.

Rafferty added: “The demand for bolt-ons has never been higher.”