United Kingdom-based shellfish processor Falfish reported a lower profit in the financial year through March 2016, but the figures came amid a big push to invest in the business and tighten costs, according to the latest accounts filed on Companies House.

Falfish invested in a new subsidiary, pet food producer Fish 1st, in which it owns a 72 percent stake, and a new joint venture, C Friend, in which it holds a 33.33 percent stake.

Falfish's net profit dropped from £685,163 (€788,143/$833,323) in the previous financial year to £286,316 (€329,349/$348,229).

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