Agri-services group Origin Enterprises has reported lower revenues and a loss for the six months to the end of January as it saw a slower start to agri-services trading in the seasonally quiet first half.

Origin said the sale of its Valeo business in July has further impacted the seasonal nature of its business model.

About 95% of the company's revenue is now derived in the second half of the year, it added.

The company reported a loss before tax of €4.083m for the six month period, this compares to a profit of €7.605m the same time the previous year.

Revenues for the six months fell by 4.6% to €507.2m from the previous year's figure of €531.6m.

The company said that the "highly adverse" weather conditions combined with the current difficult market backdrop for primary producers resulted in increased seasonality and a more challenging trading environment.

However, Origin Enterprises said it was maintaining its full year adjusted diluted EPS guidance of between 51 and 53 cent.

Tom O'Mahony, the company's chief executive, said that trading for the seasonally quiet first half of the financial year has been both slow and challenging for Origin Enterprises. 

He said that highly adverse and unseasonal weather patterns have significantly limited in-field crop maintenance activity during the second quarter in particular.  

"This, combined with weak farmer confidence reflecting the current pressures on primary producer incomes and cash flows, is expected to result in a greater concentration of service and input demand arising during the main application period in the second half of the financial year," he added.

"With the seasonally more important second half of the financial year to come and assuming normal weather patterns and no material adverse change in current exchange rates, the group expects to achieve full year adjusted diluted earnings per share of between 51 and 53 cent," the CEO added.