Positive result being anticipated at Origin

NEW food company Origin Enterprises is expected to report growth in operating profit for 2007, when it announces its maiden results today (Thursday).

The company will also provide an up-date on its plans for development of its surplus properties. These include 30 acres at Cork Docklands, 55 acres at Newhall near Naas and 11 acres at Kilcock, both in Co Kildare. It will also give latest details of its plans for a new fishmeal plant in Killybegs, Co Donegal. Goodbody Stockbrokers' Liam Igoe this week suggested the company would report operating profit up 4% to €36.1m with modest growth across all units - Shamrock Foods, Marine Proteins, blended fertilizers and animal feeds.

The analyst forecast a growth rate of over 6.5% annually in Origin - before any acquisitions - through 2% to 4% organic growth in operating profits plus debt pay down.