Origin reports profits of €11m

ORIGIN Enterprises, the Dublin-based agri-food company, has reported a pre-tax profit of €11.3 million for the first half of its financial year, down from just over €17.1m for the same period last year.

The company is controlled by the Irish-Swiss bakery group, Aryzta, which is, itself, due to report its first half figures next Monday.

Origin said figures for the six months to the end of January were in line with expectations and impacted by increased seasonality, with agricultural activity generally more concentrated towards the second half of its financial year. It said customers adopted a “cautious approach” and deferred buying decisions “until closer to the main application periods“.