Better third quarter for Origin Enterprises

8th Jun 2010 17:49

Agricultural and food products supplier Origin Enterprises is traded strongly in the third quarter.Dublin-based Origin's revenues are 11% lower at €1.02bn in the nine months to April 2010 but the third quarter revenues rose 11% year-on-year. EBITDA is 3% lower at €55.5m for the same period but there was an improvement in the third quarter. Agricultural and food revenues declined by a similar amount during this nine month period. The cold spring weather delayed and extended the crop season. The outlook for farming remains challenging according to the company. However, the recent recovery in key markets is helping Origin's customers to generate more cash. Irish brokers forecast 2009-10 earnings per share of around 33 eurocents.