Against a backdrop of increased volatility across primary input and output markets coupled with the current income pressure on farm incomes, Origin Enterprises delivered a solid performance in Q3.
Origin Enterprises has reported revenues of €560.9m for its seasonally important third quarter, a 9.4% increase on the same period last year.
This increase was driven by favourable currency tailwinds (8.6%), with underlying revenue growth of 0.8%.
Agrii, Origin’s UK business, performed in line with the previous year despite a 1.2% decrease in the acreage planted to 4.34m ha. Crops are reported to be in excellent condition with minimal losses thanks to generally dry weather in the UK.
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Origin’s Polish subsidiary, Dalgety, recorded higher agronomy revenues and margins, while the total planted area for cereals and oilseeds was in line with 2014 at 8.7m ha. Agroscope, the group’s Ukraine business recorded higher revenues and profits in Q3 despite the political instability in the region.
Origin forecasts the demand for services and inputs in the final quarter will be lower compared with 2014 due to more normalised levels of on-farm activity combined with the current pressure on farm incomes generally.
Origin is maintaining a full year adjusted diluted earnings per share of 60c.
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Origin Enterprises has reported revenues of €560.9m for its seasonally important third quarter, a 9.4% increase on the same period last year.
This increase was driven by favourable currency tailwinds (8.6%), with underlying revenue growth of 0.8%.
Agrii, Origin’s UK business, performed in line with the previous year despite a 1.2% decrease in the acreage planted to 4.34m ha. Crops are reported to be in excellent condition with minimal losses thanks to generally dry weather in the UK.
Origin’s Polish subsidiary, Dalgety, recorded higher agronomy revenues and margins, while the total planted area for cereals and oilseeds was in line with 2014 at 8.7m ha. Agroscope, the group’s Ukraine business recorded higher revenues and profits in Q3 despite the political instability in the region.
Origin forecasts the demand for services and inputs in the final quarter will be lower compared with 2014 due to more normalised levels of on-farm activity combined with the current pressure on farm incomes generally.
Origin is maintaining a full year adjusted diluted earnings per share of 60c.
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