Origin’s financial year has slow start

Agri-services group Origin Enterprises has reported a weak start to its latest financial year, with revenue growth impacted by the wet summer weather.

The Dublin-headquartered group — which is 71% owned by Irish-Swiss bakery group, Aryzta — yesterday reported first quarter revenue of €351.2m; up by 11.2% on the €315.8m reported for the same period last year.

On an underlying basis, revenue was up by 3.4%; principally driven by higher prices with seed and fertiliser volumes lower on a year-on-year basis.