Origin Enterprises swings to profit on higher fertilizer prices, crop volumes
Source - SMW
Agri-services group Origin Enterprises swung to a first-half profit on the back of higher fertilizer prices and crop input volumes.
Pre-tax profit for the six months through January amounted to €5.0m, compared to a small on-year loss of €31k. Revenue rose 20% to €701.6m.
Origin Enterprises held its interim dividend steady at 3.15p per share.
'The performance reflects the benefit of favourable early season demand for agronomy services and crop inputs, together with a strong first-time contribution from our Latin American segment,' chief executive Tom O'Mahony said.
'Looking ahead, the autumn and winter cropping profile established to date provides a solid foundation for the seasonally more important second half.'
'A full year outlook will be provided at the time of the update on third quarter trading on 19 June 2019.'
At 9:19am: (LON:OGN) Origin Enterprises PLC share price was 0p at 5.5p