Magmatic, the company behind the popular Trunki brand, has increased profits by 51 per cent and made further gains across Europe, according to its latest set of accounts.
The Bristol-based company, founded by Rob Law in 2006 and known for its children’s ride-on suitcase, has seen earnings (EBITDA) rise to £777,000 (2017 £517,000) for the year ended December 2018, in accounts recently filed at Companies House.
Magmatic saw continued growth across the EU, up 22 per cent, with particularly strong performances in France (up 27 per cent) and Germany (up 15 per cent). It also entered a number of new markets, including Ukraine and Israel, with international sales now representing 63 per cent (2017 57 per cent) of the business. Total Magmatic sales rose to a record £9.5m (2017 £9.3m).
Backed since 2013 by BGF, Trunki’s iconic suitcases and other ranges of travel products are sold in leading UK retailers such as John Lewis, Amazon, Argos, Boots and Halfords. A fifth of all three to six-year-olds in Britain own the flagship Trunki suitcase.
Rob Law, founder and CEO of Magmatic, said: “We’re very pleased with our performance this year. 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. We’ve exciting plans ahead and look forward to bringing the Trunki experience to children everywhere.”