Fruitfield profits fall

PROFITS fell by 80pc to €2.2m at biscuit and jam maker Jacob Fruitfield in the year before the company was sold to Valeo Foods.

Accounts show exceptional and restructuring charges acted as a drag on the Dublin-based group in 2010.

These costs include €1.2m relating to a review of the group's "strategic options".

The company saw its turnover fall by 11pc to €72.7m in the 2010 calendar year, with its directors pointing to a "highly competitive" trading environment.

They said the drop in sales reflected the "intensity of competition".