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Agricultural product manufacturer Wynnstay booked a 21% fall in annual profit as unseasonal weather hit demand for feed in key trading months.
The company also said that farmers had tightened spending in response to weaker farmgate prices and political uncertainty.
Pre-tax profit for the year through October fell to £7.6m, down from £9.5m on-year, even as revenue rose 6% to £490.6m
Wynnstay declared a final dividend of 9.4p, taking the full-year payout to 14p, up 4.8% on-year.
'This has been a difficult year for the agricultural market as a whole, and Wynnstay's results reflect this,' chief executive Gareth Davies said.
'As we look across the new financial year, we expect another challenging period.'
'Nonetheless, we are well-placed to navigate through, and see opportunities to potentially strengthen our position within the agricultural supply chain sector, supported by our strong balance sheet.'
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At 9:23am: (LON:WYN) Wynnstay Group PLC share price was -15p at 277.5p