Profits rise 19% to €3.1m at cereal grower based in Poland and Ukraine

Continental Farmers Group , quarter-owned by Irish agri-food business Origin, has reported profits of €3.1m to the end of last year, a 19% increase on 2010.

The Eastern European cereal grower raised €14.7m from new investors via a public listing in Dublin and London in June. Also in 2011, the group completed a joint venture with ED&F Man for the long-term supply of sugar beet in southern Ukraine.

Group chief executive Mark Laird said: “2011 was a year of transformational development for Continental Farmers Group. The successful public listing and capital raise underlines our strategic priority to become a leading and large sale precision farming enterprise.