Restructuring costs saw profits fall last year at laundry group Fishers Services.
The Cupar-based company reported a pre-tax profit of £4.6 million for 2011, compared to £5.9m the previous year. Turnover rose to £32.1m from £29.6m.
The firm said rising textile costs, partly due to the wholesale cotton market, had led to “unprecedented challenges”.
The number employed by the company rose to 723 from 686 in 2010 and the highest-paid director received £231,844 in pay, up from £224,770.