Alan Sugar’s company recorded strong profits last year as it grew outside the UK, with international sales rising from 29 per cent to 40 per cent.
Amshold has a variety of subsidiaries, such as Amscreen, which produces digital signage, and Amsprop, the unit through which Sugar holds his property investments.
The British entrepreneur’s firm described the year as “busy, challenging and successful” in its company results for the year to 30 September 2023.
The group brought in £6.4m profit throughout the year compared to £4.1m in the year before.
The group noted that its media company and advertiser Clear Channel has begun to focus more on Europe, with sales outside of the UK from 29 per cent in 2022 to 40 per cent last year.
While Amscreen, which has Sugar’s son as its chief executive, suffered a “significant challenge” as it suffered persistent damp in its factory and offices after poor weather in November 2022.
The group also launched a new product called Wafterlite, which it said had “significant demand at launch” and the year ended up being “dominated” by scheduling and delivering the demand.
This new launch and further development has caused the group’s cash balance to fall to just £1.9m, down from £12.3m the year before.
Another subsidiary of Amshold, Amstrad, was sold to Sky 17 years ago, but saw its name bought back by Sugar last month.
Sugar founded Amstrad in 1968 at the age of 21. The electronics company became a household name for making personal computers more affordable.
It manufactured the first range of Sky receivers and dishes, with the broadcaster acquiring it for £125m in 2007. Sky still uses the software but not the Amstrad name.