Origin shows €80m profit in spite oftough market

AGRI-food group Origin Enterprises has shrugged off a difficult trading environment to post an 8.5% increase in full-year profits and deliver a first dividend payment to shareholders.

The company – which was spun-off from IAWS (now half of Aryzta) in 2007 – yesterday reported profits, before financing costs, of €79.4 million for the 12 months to the end of July.

This compared to a profit of €73.2m for its first year as a standalone company, although Aryzta still holds a 71.4% stake in Origin.