Group revenue fell 16% in third quarter of its financial year
Revenue for the nine months was €1.92 billion, an increase of 9.3 per cent, with the agronomy and inputs businesses showing price growth of 20.6 per cent.
Underlying volumes were lower, falling almost 12 per cent to date, when crop marketing volumes were excluded, as Ireland and the UK saw a decline of 13 per cent and Continental Europe fell by more than 14 per cent. Latin America volumes rose 37.5 per cent in the same period, partially offsetting those declines.
The year has also seen the acquisition of Keystone Environmental, Neo Environmental, Agrigem and British Hardwood Tree Nursery, strengthening Origin’s offering in the amenity, environment and ecology businesses.Looking ahead, Origin said weather conditions and demand have subsequently improved into the fourth quarter of the year. Guidance for fully adjusted diluted earnings per share for the financial year is in the range of 50.0 to 53.0 cent, in line with market forecasts.
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