Sales and earnings grow at Timpson

SHOE repair and key cutting group Timpson saw a steady rise in sales and earnings last year.

In recently-filed accounts for the 53 weeks to October 2 the Wythenshawe-based group said pre-tax profits rose 5% to £10.6m on sales of £134.8m, up 8%.

The company said its strategy is to reinforce its position as a “leading retail service provider” on the high street and in supermarkets.

It plans to develop its photographic services through the Max Spielmann business it acquired in 2008 and the core Timpson business.

It also wants to become a leading player in the UK dry cleaning market and develop a national locksmiths business.

Timpson bought 187 stores from the administrators of Glasgow-based Max Speilmann and Klick Photoprocessing for £1.3m.

In April Timpson acquired a Chester company called Lighting and Sound Systems which provides audio and visual services to event organisers. It has since rolled this into Manchester-based Out There Events, in which it took a 50% stake in October. In September it sold 61% of the shares in the House Plate Name Company.

The company, which employs 2,600 staff, paid a dividend of £5.5m, up from £1.5m last time.