Origin Enterprises reports profit of €87.3m for 2014

Posted by | September 24, 2014 | Company News | No Comments

The company said that “near perfect planting and growing conditions” led to a strong recovery in the demand for agronomy services and farm inputs.

Origin Enterprises saw operating profit climb by 2.4 per cent to €92.9 million in the year to the end of July.  The agri-food company said revenues for the year were flat at €1.4 billion. Earnings per share amounted to 57.51 cent, an increase of 10.4 per cent from 2013.

Chief executive Tom O’Mahony said Origin recorded a 16.7 per cent increase in underlying adjusted diluted earnings per share with year-end net debt under €12 million. “Near perfect planting and growing conditions led to a strong recovery in the demand for agronomy services and farm inputs. This is in contrast to the prior year when activity levels on-farm were adversely impacted by very unseasonal autumn and spring weather”

Origin’s chief executive Tom O’Mahony said that the results for 2014 underlines the strength of the group’s positioning in agri-services with growth achieved against the dilutive impact of the disposal of its marine proteins and oils joint venture interest.

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