Origin sales top €1bn but earnings decline

ANIMAL feed and food group Origin Enterprises in its nine-month trading update says earnings and sales had declined. While sales topped €1 billion they were off 11.5% on the same period last year.

The group is majority owned by Aryzta, with a 71% stake.

Earnings over the period, measured by earnings before interest, tax, depreciation and amortisation, were down 3.1%. That fall masks a much stronger performance in the third quarter of the trading year, which showed an 11.1% gain on the same period the previous year.