Calliden Group has warned shareholders its annual after-tax profit could be severely cut as the result of “unprecedented weather and flooding” across the country.

The company announced on Friday that its full-year results released in February had been revised due to the ongoing impact of catastrophes.

Calliden originally estimated the events would cost it $7.6 million, which was $2 million above its annual allowance for catastrophes.

However, the total impact is now expected to be $5-$7 million higher than first anticipated.

“This means the impact on the group’s full-year results is larger than estimated in February,” Calliden said.

Any additional catastrophe claims in this financial year will fall outside the group’s annual allowance, which would affect the result further.

“The main impact of the weather events will fall into the first half and is likely to result in a trading loss for the period, compared to a reported profit of $6.5 million in the prior corresponding period.”