Origin Enterprises has today reported full-year operating profit of €75.7 million in what is a 6.7 increase on the €70,926 million figure posted last year.
Group revenue at food and agri-business group rose slightly €1,507,837 from €1,504,242
Commenting on the 2009 results, Origin CEO Tom O’Mahony said the group had performed strongly against challenging and competitive market conditions.
"Our food business capitalised on its leading brand positions to produce a resilient performance in the face of a significant weakening in consumer sentiment," he said.
However, Irish farming is facing "significant challenges," Mr O'Mahoney said. "Farm incomes and purchasing power are under sustained pressure following a period of very low output prices and tightening farm credit," he said.
He said the group expects that adjusted fully diluted earnings per share for the current business for 2010 would be lower than those of 2009.
"We will continue to balance new opportunity with a rigorous focus on cost control, cash flow and risk management to maintain a robust platform for the future growth and development of the group.”
