Wynnstay Group PLC (AIM:WYN) shares slipped by almost 12% on Thursday morning, as the agricultural supplies and merchanting company warned on its full-year results.
Trading over the latter half of the year was more difficult than in the first half, Wynnstay said in a statement, as farmers reduced spending.
“As a result, the group's results for the financial year are now expected to be below current market expectations,” Wynnstay added, with these expected in late January.
“Abnormally” wet weather in the post-harvest season also had an impact, the firm continued, as fertiliser and feed spending was hit following lower seed sales.
Volumes in Wynnstay’s merchanting division faced decline as customer pockets were squeezed on inflationary pressures, meanwhile.
Shares fell 11.63% to 380p.