A family-run animal feeds firm has seen margins squeezed as it reported a fall in profits.
EDP/EADT Top 100 company Duffields saw its pre-tax profits drop to £1.68m, from £2.24m, for the 12 months to September 24 2016, according to accounts recently filed at Companies House.
The business, which has been led by the Duffield family for more than 125 years, increased turnover by £2.2m to £59.78m in the period thanks to the acquisition of Riverside Feeds.
However, according to its directors' strategic report, a fall in cost of raw materials has put pressure upon its margins.
Duffields, which has its headquarters at Saxlingham Thorpe Mills, south of Norwich, said like-for-like sales had remained consistent and the company would focus on cost efficiencies and maximising margins.
The firm added the main risks facing the group were related to the volatile raw materials market.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here