Origin Enterprises plc announced a group operating profit of €126.6m for the year ended 31 July 2022. This is a 98.3% increase on the 2021 performance and pushed earnings-per-share to 65.4 cents.
Of particular note is the strong performance in Ireland and the UK, which accounted for 69% of revenue and 79% of group operating profit.
Origin’s operating margin – how much money the company makes on each euro of sales after all expenses are accounted for – jumped from 3.7% in 2021 to 5.9% in 2022.
The company said that the increase in margin was driven by “exceptional” raw material pricing and higher spending by farmers and growers under the influence of strong prices and good weather.
Shares in Origin Enterprises closed 10% higher on the day the corporate results were announced, no doubt helped by the increase in dividend from 11 to 16 cents per share.