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Fresh Produce

Origin Enterprises Delivers 'Robust' Third Quarter Despite Prolonged Winter Weather Conditions

Origin Enterprises plc delivered a 'robust' third quarter performance against a backdrop of prolonged winter weather conditions resulting in a delay to normal spring growth and crop maintenance activity.

The groups, latest trading update for the nine months to 30 April 2018 also showed that reflecting the later timing of the seasonal demand ,there has been a positive start to the fourth quarter which is expected to account for a greater proportion of full year revenue and profitability.

"Reflecting the significant seasonality profile of the Group’s operations, Origin generates substantially all
of its profits in the third and fourth quarters of the financial year," the agri-services group said in a statement.

The agri-services group's year earnings guidance in adjusted diluted earnings per share is reportedly between 47.5 cent and 48.5 cent.

Management Changes

On 7 June 2018 the Group announced the appointment of Sean Coyle as chief financial officer who will join Origin on 1 September 2018 and will be appointed as a director of the company with effect from 1 October 2018.

© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition. 

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