The Leicester printer recorded £420,259 profit after tax, up from a £91,671 loss last year, while turnover increased 22% from £20.3m to £24.7m in its results to the year ending 30 September 2011.

In the last two years Taylor Bloxham has restructured its business, including consolidating into one facility in Leicester, in order to return to profit.

However, chief executive Chris Bowen told PrintWeek that the company now intends to expand the business into new areas.

He said: "We would like more of a geographical spread, similar to our office in London but an actual printer. Our London site has gone from nothing to providing 10% of turnover in two years.

"In the north we have never maximised what we do; at the end of the day some people like to deal locally, it is all about perception, we want to be able to provide a facility five minutes away so we are looking for somebody similar to us, somebody already in the high-quality market place."

Elsewhere, Fastant, the company's design division continues to grow, increasing turnover by 18%. The company said that it expects the division to provide 50% of turnover by 2014.

Bowen added that Taylor Bloxham will be rekitting its entire site, starting in the next 12 months with a wide-format machine for Fastant and an upgrade in its litho machines at some point in 2013.

He said: "From a print perspective, we are concentrating on the high-end, high-definition, high-quality work. We are purposefully now not going for the low end stuff.

"Other capital we are looking at is point of sale as that division grows we are seeing more need for a flatbed printer and an investment in that area is starting to make sense."