Agri-services group Origin Enterprises has reported a rise in half yearly revenues while its pre-tax profits fell in the seasonally quiet first half of its financial year.
Origin Enterprises said its revenues rose to €531.6m for the six months to the end of January, up from the €517.6m the same time last year.
Origin, which provides technology and other services to help farmers boost food production in a sustainable way, said its pre-tax profits fell from €8.33m to €7.6m for the six month period.
The company said it was finding business conditions at its subsidiary in Ukraine "extremely challenging against the backdrop of the current political unrest and economic uncertainty".
The company's CEO Tom O'Mahony said that group operating profit from the company's Agri-Services division was broadly in line with last year.
He said this reflected the benefit of a favourable 2014 harvest which combined with follow on ideal planting and growing conditions for winter crops underpinned robust activity levels on farm and supported good demand for serviced agronomy and inputs.
"Farming sentiment is currently more challenged as volatile output and input markets exert significant pressure on the incomes of primary producers," Mr O'Mahony added.
Despite this, the CEO said the company are maintaining its full year guidance in adjusted diluted earnings per share of 60 cent from the existing business.
Origin also has a 32% shareholding in consumer foods company Valeo, whose brands include Erin, Sqeeze, Batchelors, Roma and Odlums. It said that Valeo performed "satisfactorily" in the six month period.
The deal to buy Robert Roberts, Findlater Wines and Spirits and Kelkin food businesses from DCC was completed last month.
