Sales in the year to 31 March increased by 21% to 9.3m, while pre-tax profits jumped 84% on last year's maiden profit, to 940,000.

Chief executive Tony Rafferty said the company was on-track with its franchise targets.

Company-owned stores produced 44% or some 4.1m of turnover, against 35% produced by the franchises.

However, Rafferty said a considerable increase in bolt-on franchisee operations could be expected, and these are set to overtake company-owned stores during the current year.

Some 23 bolt-on franchise agreements were completed during the year, with the number of outlets now up to 56.

Printing.com now has 14 territory franchise stores, compared to one in May 2003.

Since the end of last year options have also been taken on a further seven, which will see five go live soon, Rafferty said.

Despite its central printing hub in Manchester still operating at just over half its capacity, a second hub remains part of the firm's future plans.

Rafferty said the second production hub, planned for 2005 and to be located in Ashford, Kent, would enable the business to expand into continental Europe.

Considerable improvements in operating efficiencies are planned for Manchester, Rafferty said, as more volume is pushed through from the stores.

This will include improvements in its palletisation and wrapping processes.

Rafferty said the Printing.com operation was now a good barometer for franchisee-owned businesses.

Story by Andy Scott