Grassland Agro, the Irish fertiliser company, saw its profits more than halve last year after what it described as intense competition in the Irish fertiliser sector. Accounts filed with the companies office show Grassland Agro made operating profits of €3m in 2019, which was down 52% on the previous year.

Operating profit margins in the business narrowed from 5.4% in 2018 to 2.8% last year. The accounts show Grassland’s pre-tax profits fell by 57% last year to €2.5m, while sales were down 8% in the year to just over €106.4m.