Agri-services company Origin Enterprises Plc has reported a strong performance in line with the group's expectations for the 2011 financial year-to-date.
In a trading update, the Dublin headquartered company said revenues for the three months to the end of April had increased 4.3 per cent to €370.3 million as a result of a marked recovery in the farming sector.
Revenues of €939.3 million were reported for the first nine months of the year, compared to €816.6 million last year, an increase of 15 per cent.
In Ireland, fertiliser volumes were marginally lower than the first nine months of 2010 as near perfect grass growing conditions led to reduced fertiliser application.
Origin said its strategic interests in consumer foods business Valeo Foods and marine proteins and oils business Welcon performed well during the period, adding that the outlook for the final quarter to the end of July remains positive.
"Following a very positive first half, the group performed strongly in the seasonally important third quarter of the financial year reflecting the favourable operating environment for farming," the company said today.
The Group said it was comfortable with market estimates for 10 per cent growth in adjusted earnings per share for the full financial year.
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