Source - SMW
Agricultural services group Origin Enterprises booked a 6% fall in annual profit owing to exceptional costs including a write down of the value of its Ukraine assets.

Pre-tax profit for the year through July fell to €61.1m, down from €65.3m on-year.

Revenue rose 11% to €1.80bn, while underlying pre-tax profit rose 9.7% to €77.2m.

The company declared an interim dividend of 21.32c per share, up 1.5% on-year.

'Our business has performed well in the period with the group benefiting from favourable organic and acquisition growth,' chief executive Tom O'Mahony  said.

'The result reflects our commitment to maintaining a diversified business portfolio with an excellent first-time contribution from Latin America together with the benefit of good demand levels in Ireland and the UK,' he added.

That performance more than offset the impact of a more challenging operating environment in continental Europe, where highly competitive trading conditions within the Ukrainian market impacted profitability.


At 8:36am: (LON:OGN) Origin Enterprises PLC share price was -0.05p at 4.85p



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