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Origin Enterprises PLC - Dublin-based agronomy services - Says its markets in the nine months ended on April 30 continue to show ‘significant’ price and volume volatility, requiring ‘close management’. Revenue in the period is up 9.3% to €1.92 billion against the year prior of €1.76 billion, despite third-quarter revenue falling 16% to €741.5 million from €880.6 million year-on-year. Explains that its performance in the third quarter of its financial year was hurt by cautious farm sentiment and poor Northern Hemisphere in-field conditions, delaying key crop input applications.
However, Origin notes that weather conditions and demand have improved into its fourth quarter. Looking ahead, notes a positive start to the fourth quarter. It expects adjusted diluted earnings per share for the full-year to be between 50.0 euro cents to 53.0 cents.
In March, Origin reported pretax profit of €13.3 million for the six months that ended January 31, up 75 % from €7.6 million a year before. Revenue increased by 35% to €1.18 billion, from €877.1 million.
Current stock price: €3.51
12-month change: down 20%
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