Origin Enterprises shares were flat in early afternoon trading on Friday, after the company announced a group revenue climb of 47.3% to €880.6 million in Q3 and 50.2% to €1,757.7 million in the year-to-date.
The company announced an underlying revenue at constant currency growth of 45.4% in Q3 and 46.4% year-to-date.
Origin Enterprises noted that high crop prices continued to support positive on-farm sentiment, with generally favourable crop establishment and weather conditions across all three segments.
The group mentioned a 2.3% uptick in underlying volumes year-to-date, excluding crop marketing volumes, despite a reported 8.8% decrease in Q3.
However, Origin Enterprises highlighted that strong volume performance across its seed and crop protection portfolios was offset by lowered fertiliser demand as a result of significantly higher raw material costs.
The company also confirmed that its €40.0 million share buyback programme was 96% completed.
Origin Enterprises said it expected a fully adjusted diluted EPS for FY 2022 between 64% to 68%.
Furthermore, the firm added that Chairman Rose Hynes was scheduled to be succeeded by new Chairman Gary Britton at the 2022 annual general meeting.
