Origin Enterprises moves into profit

28th Sep 2009 13:51

Irish agri-nutrition and food group Origin Enterprises posted a rise in revenues and moved into profit in the year to July 31 despite the extremely difficult conditions in the country's economy.Revenue edged up to €1.507bn from €1.504bn over the same period the previous year and profits totalled €58.7m compared with a loss of €134.4m.'Origin has performed strongly in 2009, growing operating profits and delivering excellent cash flow against the backdrop of challenging and competitive market conditions,' said chief executive Tom O' Mahony. Agri-nutrition revenues totalled €1.2bn, a rise of 4.1%, while the food business, which includes the Roma pasta brand and the cereal milling company Odlums, generated turnover of €295.3m,a 12.9% reduction.