Agri-services group Origin Enterprises said that revenues for the three months to November rose by 3.5% to €318m due to favourable currency movements and merger and acquisition activity.

Ahead of its AGM today, the company said in a trading statement that its underlying revenues were down just over 5.6% on the back of lower global fertiliser and feed prices.

The company said it had a "satisfactory" performance in the seasonally quiet first quarter of the 2015 financial year.

It said that while activity levels on farm were robust, output price volatility is making for a "demanding and challenging planning environment for primary producers".

Origin said it currently expects to deliver full year adjusted diluted earnings per share of about 60 cent - in line with expectations.

In the UK, Origin said that the winter cropping programme has had a good start with growers taking advantage of ideal sowing conditions in September and October.

It is expecting a level of increased spring cropping for the 2015 production year with total winter and spring planted hectares estimated to be broadly equivalent to last year.

Origin said that market conditions in Ukraine remain difficult due to the significant political uncertainty which has resulted in currency weakness and a challenging operating environment. 

Its Irish and UK agri-inputs division saw a positive start to the financial year, mainly supported by higher fertiliser volumes.

But it said customers in its feed ingredients business are adopting a more cautious approach to their buying commitments on the back of recent pricing volatility.