Provider of portable hotel accommodation and services, Snoozebox, said that despite a turbulent and challenging year of change, it had almost doubled its revenue for 2013.
Turnover rose from £3.78m to £6.72m year-on-year, although an increase in logistics, deployment and equipment hire costs, as well as administrative expenses, resulted in a widening of pre-tax losses from £4.4m to £9.4m.
During the 12-month period, the group experienced growth across each of its sector, with hotel room stock up 11% to 578 rooms.
It sold around 32,000 room nights, which helped it to achieve a gross margin of 73%, up from 54% a year earlier.
Chairman David Morrison, said: "Subsequent to the management changes at the end of the first quarter in 2013, the immediate focus was on delivering the accommodation and services at events, during the summer months, to which the company had committed, as well as making some necessary changes to the organisation of the business."
He also said that a company review had resulted in the realisation that "the opportunities for the company include the provision of accommodation and related services not only at events but also for longer term deployments to address demand in other sectors".
The group also recognised that, in order to open up a broader market, it is necessary to develop a new generation of units capable of more rapid and lower cost deployment.
It said considerable progress has been made in the past few months on that front and that it anticipates being able to introduce new stock later this year, with a view to full deployment in 2015.
Looking ahead, the group believes the opportunities within the market, in terms of size, demand and growth, are "compelling".
"In addition to events, there is a broader opportunity in the market and the focus in the last six months has been on positioning the company for growth. 2014 will be a transitional year as the company services the demand for longer term deployments with the existing room stock and introduces the Next Generation Portable Hotel to service the events market," it said.
Bunzl said revenue in the first quarter rose 5% compared to the previous year as the distribution and outsourcing group continued to expand through acquisitions.
Group operating profit in the first three months of 2013 climbed 10%, according to a trading update on Wednesday. The operating margin grew in three of the company's businesses and was flat in the fourth.
However, the firm warned that results at actual exchange rates
have been negatively affected by foreign exchange
Bunzl also announced it has completed further acquisitions in Chile, the US and New Zealand, as part of its strategy for growth.
The company has bought Tecno Boga SA, a supplier of own label protective footwear in Chile, and Plast Techs Enterprises, which provides foodservice, cleaning and hygiene supplies to distributors in California.
Bunzl also purchased New Zealand firm Nelson Packaging Supplies, which offers packaging and cleaning and hygiene supplies to commercial and industrial market sectors.
"Acquisition activity has continued at a good pace during the first quarter of the year with six acquisitions completed for a total committed spend of £80m," said Chief Executive Michael Roney.
The group said there has been no significant change in its financial position and it has substantial funding headroom available.
A strong cash flow and balance sheet, along with a promising acquisition pipeline, is expected to provide opportunities to consolidate the markets in which Bunzl operates and deliver further growth.