MACPHIE, the food ingredients manufacturer, has reported a fall in underlying operating profits amid competitive conditions.

While turnover edged up to £56 million from £55.7m, operating profit dipped to £1.2m from £3.1m. Boss Andy Stapely said: “This is an encouraging performance in a highly competitive industry that operates on very tight margins. We have been investing in growth so a rise in both turnover and gross profit shows we’re on the right track.

“The long shadow of Brexit has created uncertainty in global markets but our outlook remains positive as we work to secure our supply chain.”