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.
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by RTT Staff Writer
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