Origin Enterprises plc (OGN.L), an agriculture services provider, reported Thursday higher revenues in its third quarter and nine-month period.
Looking ahead for fiscal 2025, the company expects adjusted earnings per share between 50 euro cents to 52 euro cents, higher than prior year's 48.06 euro cents.
Origin's Chief Executive Officer, Sean Coyle, said, "Improved momentum in Q3 was driven by favourable application conditions for crop inputs and an increased winter cropping area in the Northern Hemisphere, together with strong demand in Living Landscapes supported by recent acquisitions. … we expect our increasingly diversified earnings base will result in operating profit growth in 2025 and guide full year adjusted diluted EPS of 50 to 52 cent. We remain on track to deliver the Group's stated financial and operational targets for the period FY2022 to FY2026 as outlined at the 2022 Capital Markets Day."
In its fiscal 2025 trading update, the company reported that third-quarter Group revenue increased 12.8% on a reported basis and 11.4% at constant currency.
In the nine-month period, Group revenue grew 4.1 percent to 1.59 billion euros from last year's 1.52 billion euros. The growth was 2.6 percent on an underlying basis and 3.3% at constant currency, reflecting solid organic growth across both Agriculture and Living Landscapes.
Total Group revenue excluding Crop Marketing grew 6.7 percent from last year to 1.47 billion euros.
The company plans to release preliminary results for FY25 on September 23.
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