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Origin produces 8.4pc profit increase

Wednesday, September 19 07:44:39

Origin Enterprises, the food group, has recorded an 8.4pc increase in pre-tax profit to E76.223m to the end of July. The company also recorded a fall in group debt, falling E24.3m to E67.8m, highlighting, the company says, the business capacity to generate cash. Revenue also increased at the company, recording an increase of 6.6pc to E1.34billion. There was also a 5.6pc increase in agri-services operating profit to E69.7m.

The company says the increase reflects positive volume and margin development in integrated on-farm agronomy services. Origin CEO Tom O'Mahony said that Origin delivered a strong financial and operating performance in 2012, recording an 11pc increase in earnings per share combined with excellent cash generation.

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