Bradbury & Son, supplier and distributor of the Go Dutch brand of Edam cheese, has wiped almost £500,000 off its pre-tax profits after investing heavily to take on more business.

The company reported pre-tax profits of £220,854 for the 12 months to 30 April 2010, down £488,577 on last year's profits of £709,431. Turnover rose by £9.4m during the same ­period, to £69.4m.

Bradbury & Son had to make an unexpected and substantial investment in cheese-wrapping systems and processes as a result of winning a major speciality cheese-packing contract with Waitrose in December 2009, said sales and ­marketing director Chris Chisnall.

That, together with fluctuations in the exchange rate, had been responsible for the fall in profits.

The facilities upgrade would "bring more efficiency and a greater opportunity to grow in future", added Chisnall.