The Crewe-headquartered company, which employs more than 2,000 staff across the UK, also upped pre-tax profits to almost £6m.

In the year to 29 March 2014, accounts for Ryman Group show the business posted a turnover of £130.6m, up from £125.4m a year earlier. Pre-tax profits rose by 8 per cent to £5.8m for the same reporting periods.

Speaking at Manchester Grammar School's Business Class series, held last night (8 January 2014), Paphitis told Insider the results were down to getting the basics right.

"Ryman is 120 years old and they’re the best figures in its history," he said. "All through the recession we've grown our profits and our turnover. That's an interesting fact.

"Retail is detail. Ryman is not a sexy and exciting business, some would say, but it’s a specialist service industry and it’s in the high street.

"When I bought Ryman 20 years ago this year it was in administration. They said 'you're mad because we've got the paperless office' and the high street is a bit dodgy.

"We're a niche business and we need to serve our customers. It's lots of little bits but for us it's the little bits that make us work."

Ryman was founded in London by Henry J Ryman in 1893 and has been owned by Paphitis since 1995. The company stocks office supplies, plus furniture and electrical items, and trades from 232 stores.