Agri-services group Origin Enterprises has reported a 12% decrease in underlying revenues for its fiscal third quarter compared to the same time last year.
In a trading update for the nine months to April, it said that revenues were "substantially impacted" by highly adverse and unseasonal weather conditions across its operations in Ireland, the UK and Poland.
"Reflecting the increased seasonality in the current financial year, the group will earn all of its profits in the second half of this year," Origin stated.
But the company also said that demand for services and inputs in its final quarter is expected to be higher compared to the same time the previous year, mainly due to a greater concentration of seasonal activity.
"There has been an encouraging start to the fourth quarter although confidence at farm level remains subdued reflecting the current challenging backdrop to primary output markets which is expected to make for a highly competitive trading environment in the fourth quarter," the company added.
In today's trading update, the company said that revenues in its Agri-Services division in the third quarter eased by 1% to €555.5m.
Origin said that underlying year to date crop volumes were down about 8% with lower crop protection and fertiliser volumes partially offset by higher feed volumes.
It said that its business to business Agri-Inputs division saw a "satisfactory performance" in the third quarter.
It noted that volume development in both Ireland and the UK improved after a weak early season demand due to a combination of weather delayed seasonal timing and lack of confidence by primary producers in near term development.
Origin said it remained positive on the full year fertiliser volume outlook in Ireland, but UK volumes will be lower for the full year.