Swansea-headquartered electronics manufacturer iPulse has almost doubled turnover with the company growing its own brand products as well as its outsourced manufacturing business.

iPulse manufactures intense pulsed light devices which inhibit unwanted body hair growth. Insider Media reports turnover grew from £17.5m in the year to December 31st 2016 to £32.8m in 2017, with operating profit also growing significantly, up from £662,000 to £4m. Gross profit margin rose from 16% to 20% and company’s first office in Japan also returned a profit.

A statement accompanying the company’s results said “The group activities consist of the design, development and sale of intense pulsed light (IPL) devices for home-based hair removal. The group sells its products as an Outsourced Design Manufacturer (ODM) to a single large customer as well as under its own brand, Smoothskin. The directors are pleased to report on significant growth in turnover over the year and an improvement in gross margin. The group has been heavily reliant on a single customer in recent years but the directors are now investing in the own brand business to promote growth and mitigate single customer risk. The recently established trading office in Japan was profitable in the first year of trading.”