THE RECENT strong performance by the farming sector served to boost revenues at Origin Enterprises in the third quarter, as the agri-company reported a 15 per cent increase in underlying revenues in its core agri-services businesses.

Origin, in which Aryzta is a 71 per cent shareholder, yesterday re-affirmed its full-year guidance of 41 cent, equating to 10 per cent earnings per share.

The company reported revenues of €939.3 million for the first nine months of the year, compared to €816.6 million last year.

Origin’s agronomy businesses – which comprises Masstock in the United Kingdom and Dalgety in Poland – performed particularly strongly in the third quarter, according to the company, benefiting from the positive output price environment and increased plantings in autumn 2010.

The recent drought-like weather conditions in the UK and northern Europe also benefited Origin, with Masstock and Dalgety providing active crop management programmes for customers.

The company’s acquisition of British company United Agri Products Ltd, which received regulatory approval last week, together with the acquisition of Rigby Taylor, will bolster the company’s underlying business, the company said. Fertiliser volumes in Ireland were lower than in the first nine months of 2010, due to the excellent grass-growing conditions to date this year.

Sales of animal feed ingredients were also slightly behind, again for weather-related reasons.

In terms of Origin’s associate businesses, the company said that Valeo Foods and the marine proteins and oils business, Welcon, performed well during the period.

New product development and channel expansion had ensured Valeo had withstood continuing consumer weakness, the company said, adding that the integration of Origin Foods and Batchelors is progressing “very satisfactorily”.