Origin numbers boosted by uptick in farming activity

Origin Enterprises said underlying revenue rose by 4.1 per cent to €548.7 million for the third quarter of its financial year.

In a trading update, the agri-services group said higher revenues and margins were supported by robust activity levels on farms.

It also noted that the performance had to be set against a 2016 comparative period when activity levels on farms were adversely impacted by weather and late spring growing conditions.

The company said revenues for the nine months of the year to date were €1.1 billion, up 4.7 per cent on the equivalent period last year.

Donegal Investment Group discontinues dividend

---

Minister to convene meeting to discuss recent increase in farm deaths

---

Glanbia Co-op expects to raise €155m after share placement

---

French farm leader ups Brexit ante with hard Irish Border call

---

Crop output values

Origin said the positive impact of sterling weakness on crop output values, combined with a pick-up in global dairy markets, were the principal drivers of an improved short-term outlook for the incomes of crop and grassland farm enterprises.

The company said its operations in Poland and Romania achieved underlying volume growth in agronomy services and crop inputs of 11.3 per cent and 12.3 per cent for the quarter and year-to-date respectively.

It noted the region performed solidly in highly competitive market conditions with value added technologies providing good development momentum.

Based upon a good third-quarter performance and a normal demand profile for agronomy services and crop input activity in the fourth quarter, Origin said it expects to achieve full-year adjusted diluted earnings per share in the range of 44 to 46 cent per share.