A printing company which has just been bought by a rival attracted its suitor after a year of surging profits.

Balreed, which has its head office in Maidstone, was snapped up last month by fast-
growing print and digital firm Apogee Corporation after driving turnover to more than £40 million.

Its latest accounts showed the firm grew revenues by 33% last year, as it boosted operating profit to £2.6 million, up from £1.6 million.

Pre-tax profits grew to £2.1 million from £1.1 million.

The firm also continued to increase its headcount and expanded its head office, as well as opening a new office in Manchester last year.

Its merger with Apogee has created the largest independent document technology business in the UK.

Balreed, which now trades under its new owner’s name, employs about 220 people, of which about 75 are based in the Maidstone office in 20/20 Business Park.