The Fife-based arm of international performance pigments and coatings specialist Silberline has posted a fall in full-year profits.
Newly posted accounts at Companies House show Leven-based Silberline Limited produced a £1.07 million profit on a pre-tax basis in the year to December 31 2014.
The figure compared with a £2.4m pre-tax return for the year previous and £3.49m in 2012.
Turnover from continuing operations also fell significantly to £20.59m during the latest period, down from £23.99m in 2013.
Silberline Limited is a subsidiary of Tamaqua, Pennsylvania-headquartered Silberline Manufacturing Company Inc, a company which can trace its roots back to 1945 when Ernest Scheller set up Metals Powder Inc.
The accounts state the firm, which employs around 700 staff worldwide including 133 in Fife during 2014, remains in the control of the Scheller family, with Lisa Jane Scheller as president and chief executive.
In its strategic report to the accounts, Silberline Limited said the principal business activity during last year was the manufacture and supply of high quality special effect and performance pigments for coatings, inks, plastics and textiles.
One of the company’s major commercial targets is the global vehicle manufacturing sector.
The firm said it was operating in a competitive environment and it listed currency exchange fluctuations and market conditions among the principal risks and uncertainties it faced.
“The sector in which the company operates is a globally price competitive market,” Silberline said.
“The company mitigates the risk by ensuring it provides high quality products and building global relationships with its customers through customer service and technical service support.”
On a positive note, the firm continued: “The commercial environment is expected to be uncertain in 2015.
“However, the company remains confident that it will continue to achieve a profitable performance in the future.
“The company will continue to improve it operations through the investment in people, processes and working capital management.”