A Bury-based toy company has announced "ambitious plans" to continue growth as it celebrates 25 years in business.

Sambro Ltd, a global manufacturer of toys headquartered on Dumers Lane, says its continued success has been driven by the business’ "incredibly passionate and committed team, including its new senior leadership team".

The business works with customers across the UK and Europe, as well as with some of the fastest growing retailers in the region.

It trades in over 30 countries worldwide from its offices in Greater Manchester and Amsterdam.

The company reported that gross margins increased from 20 per cent in 2021 to 24.7 per cent in 2022, driven by significant internal efficiency improvements and continued development of its global supply chain.

Net cash generated by the group from operating activities was £4.3m - significantly higher than the previous year when cash consumed was at £2.9m.

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Cash and cash equivalents at the end of 2022 were recorded at £2.1m - 106 per cent ahead of 2021 which was valued at £1m.

Sambro CEO Paul Blackaby said: “2021 saw significant growth for us as a business and we set ourselves ambitious targets for 2022, which thanks to our commitment to investing in our people, product and partnerships, we’ve been able to hit and more.

“We are now focused on the next 12 months and have ambitious plans for further development and growth.

"Our core business strategy for this next trading period is to work even more closely with our licensed partners' brand portfolios, as well as introducing new partners where the licensor offers a point of difference including trend brands.

“The business also remains committed to our ‘one business’ European expansion and our pan-European growth strategy will be supported by our 110 strong team in the UK and our Amsterdam-based European hub.”

The growth can be attributed to strong partnerships with cross categories and contracts with long standing partners which include Disney, Hasbro, Mattel and Paramount, including range extensions and new product development.

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As well as multiple new contracts with new licensors such as Acamar Films (Bing) and further partnerships soon to be announced.

Looking ahead, Sambro is confident it will continue its growth trajectory thanks to a strong future order book and aims to double the size of the business over the next three years.

To support these targets, the firm has strengthened the focus of its core business strategy which will see it work in-depth across licensed partner’s and their brand portfolios, as well as identify partnerships with new licensors which have a point of difference in the market space.

Sambro is also committed to continued investment across its own IP products, including the expansion and development of its trend-led Love & Hugs portfolio and further innovations across other ranges including Puzzle Palz and Bops N Tops.

Elsewhere, Sambro has invested heavily in a people first approach to business which has seen it grow its team from 96 to 110 over the last 12 months, including ten internationally to support overseas growth.