Origin Enterprises reports 11% rise in operating profit

AN improvement in trading conditions helped agri-services group Origin Enterprises generate a near 11% rise in operating profit and a €200 million increase in revenue in its latest financial year.

For the 12 months to the end of July, Origin yesterday reported operating profits of just under €86m, up from €77.4m the previous year. Group revenue was up 16.8% at €1.26 billion. Adjusted diluted earnings per share of 11c marked a 22.2% annual rise, double initial market expectations of around 11%.

Pre-tax profits for the year amounted to €66.25m, well up on the €44.53m figure reported for the preceding 12-month period.