Fairfax Meadow has reported a 29% slump in pre-tax profits for 2013 following a strong 2012.

The meat and poultry wholesaler said profits fell to £2.06m in the year to 31 December 2013 on sales up 4.6% to £153.4m, in accounts filed at Companies House.

In the previous year, Fairfax had enjoyed an 87% profit rise after ­benefiting from contract wins, price rises and a boost from the London 2012 Olympics.

In its outlook for 2014, Fairfax said that while it would continue to pursue growth opportunities and develop its product ranges, it also expected food price inflation and other cost increases, together with the continuation of tough trading conditions, to have an impact on future results.