Fisherman’s Friend maker Lofthouse of Fleetwood has reported a 45% drop in pre-tax profits as cost inflation and currencies hit the historic company’s bottom line.
The family-owned company grew sales by 0.7% to £51.6m in the year to 31 December 2017.
However, the “impact of exchange rate fluctuations” and “increases in direct costs” meant pre-tax profit plunged 45% back to £3.2m.
During the year it spent £2.9m on fixed assets.
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