Abbey Machinery, the family-owned manufacturer of farm machinery, saw a slight fall in profits for its 2018 financial year. Accounts filed with the companies office (CRO) show Abbey made pre-tax profits of just under €270,000 in 2018, down 16% on the previous year.

Operating profits at the Tipperary-based company fell 8% year on year to just under €303,500 as operating profit margins narrowed from 1.8% in 2017 to just 1.4% last year. Despite the fall in profits, Abbey recorded healthy sales growth, with turnover increasing 14% to €21.2m.