The Cumbrian company behind the UK's plastic banknotes has seen a multi-million pound growth in pre-tax profits.

Wigton's Innovia Group has reported that these totalled 63.1m euros (£55.4m) in 2016 compared to an £8.3m euro (£7.3m) loss the previous year.

Of these, 57.8m euros (£50.7m) were in what the firm described as "continuing operations"; in 2015 the figure was a 6.9m euro (£6.1m) loss.

Turnover in these operations rose to 391.2m (£343.2m) from €390.9 (£343.1m) in 2015.

These figures have been revealed in accounts filed at Companies House by Innovia.

Last year the group sold it cellophane business to Japanese firm Futamura in a £60m deal, completed in July.

In December, Canadian multinational CCL Industries announced it was taking over the group for 1.14bn Canadian dollars (£695m). This deal was completed in March.

The accounts state: "Innovia's people are its greatest asset. The group welcomes and values diversity and difference and its employees come from a wide variety of backgrounds."

"Working in a variety of roles, its staff share a common goal: to deliver the innovative products demanded by its customers worldwide."

Innovia employs 1,200 people worldwide including more than 600 at Wigton, where it manufactures polypropylene film for use in labelling and packaging, and the Guardian polymer bank note material recently adopted by the Bank of England for both £5 and £10 notes.