Origin Enterprises Year-to-date Performance In Line With View - Quick Facts

5/28/2012 2:51 AM ET

Origin Enterprises plc (OGN.L), in its trading update for the nine months to 30 April 2012, said it has delivered a strong result in the seasonally important third quarter of the financial year with year-to-date performance in line with expectations. The company added that 85 percent of annual profits are now typically earned in the second half of the year to 31 July, reflecting the repositioning of Origin's consumer foods business following the Valeo Foods transaction in November 2010 and the strategic expansion of the Group's Agri-Services business in 2011.

Nine-month Group revenue was 959.0 million euros, compared with 983.5 million euros last year. The outlook for the final quarter of the Group's financial year to July 31, 2012 remains positive and the Group is comfortable with consensus market estimates for an adjusted earnings per share of about 44.5 cent.

Click here to receive FREE breaking news email alerts for Origin Enterprises and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 82 Articles

Editors Pick

Modest Gain In Eurozone PMI Revives Recovery Hopes

An indicator of Eurozone's private sector activity improved more than expected in May, renewing hopes that the economy is inching towards a recovery. Nonetheless, the indicator remained in negative territory, signaling sharp deterioration in overall business activity. The composite output index rose to a three-month high of 47.7 in May from 46.9 in April.

China Manufacturing Contracts As New Orders Slump

China's manufacturing sector contracted for the first time in seven months in May amid poor demand, fueling concerns that the weakness in the economy may persist for some more time. The headline purchasing managers' index, an indicator of the health of the factory sector, fell to a seven-month low of 49.6 in May from 50.4 in April. Readings below 50 indicate contraction of the sector.

HP Profit Falls Yet Tops Estimates

Hewlett-Packard Co. said Wednesday after the markets closed that its second quarter profit fell 32% from last year, hurt by lower revenue and weaker margins amid a slump in PC sales. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast.