Singleton's Dairy has warned of a difficult year ahead, despite posting a six-fold hike in profits.

Pre-tax profits at the Lancashire cheese supplier rose 504.4% to £933,446 in the year to 31 March 2011. During the same period, sales increased 6.3% to £15.9m.

"The company and its directors are pleased with the improved results for the year despite the tough economic conditions," Singleton's said.

However, market conditions would remain difficult in the forthcoming year, it warned.

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