International agri-services group Origin Enterprises has reported higher revenues and operating profits for the six months to the end of January - traditionally a slower time of the year for the company.
Origin Enterprises said its revenues for the six months rose by 2.5% to €852.6m from €83.17m while its operating profits inched up 1.3% to €15.1m from €14.9m.
But its half year profit before tax dipped to €6.1m from €7m the same time last year.
It announced an interim dividend of 3.15 cent per share.
Breaking down its divisions, Origin said the first half profit performance at its Agriculture unit was broadly in line with the same time last year, with growth in Ireland, the UK and Latin America (LATAM) offset by a reduction in Central Europe.
It noted that planted areas in the UK are ahead of last year and crop development is progressing well, while a continued move towards winter planting is evident in Central Europe, with crop development progressing well.
An expanded soybean and corn area in LATAM is driving volume growth despite a challenging environment, it said, but added that weaker grain, oilseed and dairy prices continue to dampen farm sentiment, influencing timing and commitment to spend.
Meanwhile, its Living Landscapes division posted a good first half performance, with operating profit up 8.3%, driven by early season organic growth in the Sports and Landscapes businesses.
It said its Environmental business recorded a like-for like decline in the first half of the year, reflecting project timing delays, but boasted by acquisitions, it delivered year on year growth.
But demand across Living Landscapes has had a robust start to the second half of the year, it added.
Origin also said today that John Hennessy was appointed to the Board at the start of the year, and will succeed Gary Britton as Chairman tomorrow.
Origin's chief executive Sean Coyle said the company reported a "solid" first-half performance with activity across both Agriculture and Living Landscapes in line with expectations.
The CEO said this establishes a strong operational base across the markets as it moves into the more significant second half of the year for the company.
"In Agriculture planting activity across our markets has set an encouraging platform for the remainder of the year, while on-farm sentiment remains cautious given output prices," he said.
"Our Animal and Soil Nutrition businesses had a strong performance, and our order books are well positioned for the second half. Despite broader geopolitical uncertainty, we have actively managed the factors within our control and continue to work closely with customers to ensure clarity on pricing, product availability and service delivery throughout the season," he said.
He also said in Origin's Agronomy businesses well-established cropping areas across key markets provide a solid base for second half activity.
The CEO said the integration of recent acquisitions continues to progress well and provides a solid foundation for the second half of the year, adding that the company has an active pipeline of further acquisitions in this segment and remain excited about its performance and prospects.
"Planting areas and crop conditions are good across our markets, and demand for animal and soil nutrition products has been solid. Consistent with prior years, significant levels of spring volumes are still to be delivered across all of our businesses and guidance for FY 2026 will be issued with our third quarter trading update on 11 June 2026," he added.
Shares in the company were lower in Dublin trade today.
