International agri-services group Origin Enterprises has reported "strong" performance across all segments of its business in the third quarter of the year.
In a trading update this morning, it reported group revenue of €880.6 million in the quarter ended 30 April, up 47.3% on the same time last year.
Group revenue year-to-date was up 50.2%.
The company which provides agronomy advice, crop inputs and digital agricultural solutions to farmers, growers, landscapers and amenity professionals said it saw strong crop protection and seed volume growth, offset by fertiliser demand reduction as a result of the "exceptionally high" fertiliser pricing environment.
Ireland and the UK recorded an overall reduction in underlying volumes in the third quarter of 8.7% and an increase year-to-date of 0.4%
In Ukraine, it said activity levels have reduced sharply since the start of the war, with the limited sale of last year's crop significantly impacting on-farm liquidity.
"The Group’s top priority remains ensuring the safety and wellbeing of our colleagues and the continued de-risking of the balance sheet in Ukraine," it said in its update.
"The Group continues to closely monitor the situation on the ground and support the limited localised operations in areas away from conflict, overseen by the local team."
The company said its €40 million share buyback programme is 96% complete.
It said the strong trading conditions experienced to date have continued into the fourth quarter across all three segments.
"The Group now expects to deliver increased growth in earnings year-on-year,with full year adjusted fully diluted earnings per share, excluding any impact of the on-going share buyback programme,in the range of 64 to 68 cent for FY22," it said in its trading update.
Separately today, Origin Enterprises announced that chairman Rose Hynes will be succeeded by Gary Britton at the 2022 AGM.
