Food and agri-business group Origin Enterprises has said its revenue in the nine-month period to April 25 was €1.15 billion, up 9.2% from the same period a year earlier.
But revenue fell by 5.6% when the impact of acquisitions, sell-offs and currency movements were stripped out, according to a trading update
CEO Tom O'Mahony said food producers were being hit by volatility on world commodity markets and conditions in the credit markets.
Origin also said it would take a €105m hit in its annual results to account for the fall in the value of its investment properties, which are mainly in the Cork South Docks.
Revenue in the agri-nutrition business for the nine months was up 16.7% to €922.7m, though there was an underlying fall of 3%. Food revenue fell 13.4% to €226.8m, affected by weaker consumer sentiment.
Origin will be recommending an annual dividend of around eight cent per share, subject to shareholder approval.
