Shares in Wynnstay Group PLC (AIM:WYN) dropped 7% after the company warned that its full-year results would fall short of market expectations.
The agricultural supplies firm cited weaker performance in its Feed division and lower margins in its fertiliser blending operation as key factors behind the decline.
Wynnstay's Feed division saw reduced poultry feed volumes, which are expected to remain low, while its fertiliser blending operation at Glasson Grain struggled with falling market prices and cautious purchasing by farmers.
Heavy rains impacting harvests and planting also contributed to lower sales in recent months.
While other parts of the business, such as the arable activities and Specialist Merchanting division, performed as expected, they could not offset the underperformance in key areas.
In late morning trading the stock was off 22.83p at 297.16p.