Magmatic, the company behind the iconic Trunki brand and founded by Rob Law in 2006, has increased profits by 51% and made further gains across Europe according to its latest set of accounts.
The Bristol-based company which is best known for the pioneering children’s ride-on suitcase reported earnings of £777,000 for the year ended December 2018 (up from £517,000 in 2017). Total sales rose to a record £9.5m (increasing from £9.3m in 2017).
Magmatic also reported its continued growth across the EU, with sales up by 22% and particularly strong performances in France (up 27%) and Germany (up 15%).
The brand also entered a number of new markets for the first time, including Ukraine and Israel, with international sales now representing 63% of the business (compared to 57% in 2017).
“We’re very pleased with our performance this year,” said Rob Law, founder and ceo. “We continue to make great strides in Europe, helped in no small part by our decision to buy our Plymouth factory in 2012 in order to manufacture many of our products in the UK. This has optimised our supply chain and made us even more nimble and responsive to the challenges of a fast-changing market.”
He added: “We’ve exciting plans ahead and look forward to bringing the Trunki experience to children everywhere.”
