CARR'S Group has maintained its expectations for the full year, with a weaker showing from its agriculture business offset by strength in its engineering division.

In a trading update issued yesterday, the Carlisle-based farming supplies firm said trading in its agriculture business had fallen behind expectations for the 18 weeks to 4 January.

It blamed this on mild weather in the UK leading to reduced spending on feed and animal supplements. In its US agriculture business, reduced cattle prices and a delayed start to winter feeding had dented demand for its products, Carr's added.

Overall, the firm now expects the performance of its agriculture business to be "moderately behind" the board's forecasts.

Chief executive Tim Davies said: "Despite a challenging start to the year in our agriculture division, due to a number of weather and market factors, we are confident in the medium-term prospects for agriculture."

Shares in Carr's closed down more than five per cent.

(c) 2020 City A.M., source Newspaper