Origin Enterprises ups full-year outlook

Agri-services group Origin Enterprises has increased its full-year earnings outlook by 3% on the back of a strong third quarter performance.

The Dublin-based business yesterday reported revenues of just under €513 million for the three months to the end of April, representing underlying growth of 13.2% on the same period last year. When the effects of currency differentiations and acquisitions are added, annualised revenue growth amounted to 19.8%.

The strong third quarter showing compared very healthily with a 5% sales fall for the same time last year. Despite a likelihood that sales levels will be slightly weaker in the current/final quarter of Origin’s financial year (which runs to the end of July), the group has still given a strong outlook.