Codd Mushrooms, the Carlow-based mushroom producer, saw pre-tax profits fall almost 80% in 2016 to just under €32,000.

The family run business reported operating profits of just over €40,000, as profit margins fell from 1% to a very tight 0.2%.

The Irish mushroom sector has endured a difficult time over the last two years as uncertainty around Brexit and the volatility in the sterling exchange rate hit many producers hard.

Codd Mushrooms reported sales of €16.2m for the 2016 financial year, which was 5% back on the previous year. According to accounts filed with the companies office (CRO), Codd Mushrooms generates 95% of its sales in Ireland. Just 5%, or €780,000, of sales are generated from exports to the EU.

Codd Mushrooms employs 225 at its Tullow facility and produces in excess of 7,000t of mushrooms every year.