Monsanto UK has suffered a drop in profit in the UK, according to its most recent financial accounts.
The international seed specialist's British arm saw pre-tax profits slip from more than £2.5 million in 2012, to just under £200,000 in the year ending 31 August, 2013.
Turnover, though, was up from £36.6 million in 2012, to £43.5m last year.
A statement from Monsanto's UK directors accompanying the accounts, which were posted to Companies House, said: 'The company operates in a highly competitive market, which is a continuing risk to the company, and could result in losing sales to its key competitors.
'The company manages the risk by controlling manufacturing and marketing costs without adversely affecting sales, predicting and responding effectively to competitor pricing, and developing new products with features attractive to customers.'
The directors went on to note that the company is subject to extensive regulation affecting seed biotechnology and agricultural products, which can affect sales and profitability, but that it has no external borrowings, and serves customers within the agriculture and food production sector - one 'which has been less adversely affected by the current uncertain economic conditions and outlook.'
Their statement added: 'The external commercial environment is expected to remain competitive in 2013/14. However, we remain confident that we will maintain our current level of performance in the future.'
Monsanto UK, a wholly-owned subsidiary of the Monsanto Company, based in St. Louis, Missouri, USA, is headquartered in Cambridgeshire.
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