Tyman plc saw its share price rise 3.4% to 365p after it reported strong financial results on Thursday morning.
The company enjoyed a 17% increase in revenue to £635.7 million against a figure of £572.8 million in 2020.
Tyman reported an adjusted operating profit of £90 million against an £80.3 million result in 2020, alongside a pre-tax profit of £64 million compared to its £47.6 million figure in 2020.
The home products company said an increase in market share and strengthen demand helped boost revenue.
Investors also saw a record dividend per share of 12.9p against a payment of 4p in 2020.
Tyman commented that it had achieved its performance goals despite industry-wide challenges to its supply chain, alongside labour restrictions and input cost inflation.
“The Group’s performance was robust, with strong market momentum and share gains delivering growth in spite of well-publicised supply chain challenges, labour constraints and input cost inflation,” said Tyman CEO Jo Hallas.
“We expect underlying demand in 2022 to remain strong, driven by favourable housing market fundamentals, albeit set against rising macroeconomic and geopolitical pressures.”
“We continue to take actions as necessary to mitigate ongoing industry-wide supply chain challenges and cost inflation.”
“The Group is well positioned for growth in 2022 and beyond, benefiting from long-term structural industry growth drivers, our strategic initiatives and building on our portfolio of differentiated products, market-leading brands and deep customer relationships. “