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Origin Enterprises PLC on Friday saw a huge jump in revenue in the third quarter of its most recent financial year as it looks forward to delivering increased growth in earnings.
The Dublin-based agronomy services provider also announced a change of chair.
For the three months that ended April 30, Origin saw a 47% increase in revenue to €880.6 million compared to €597.8 million in the third quarter last year.
Its group revenue in the year-to-date also jumped to €1.76 billion, up 50% from €1.17 billion the year before.
Origin said it experienced strong trading conditions throughout the period with good crop establishment, favourable weather conditions and strong on-farm sentiment. It also reported strong volume performance across the company's seed and crop protection portfolios.
It said its €40.0 million share buyback programme is also 94% complete.
The company has appointed Gary Britton as chair designate to succeed Rose Hynes, who decided not to seek re-election at the annual general meeting this year.
Britton, who joined the board in 2015, is currently the chair of the Audit & Risk Committee.
Looking ahead, Origin Enterprises expects to deliver increased growth in earnings year-on-year, with full-year adjusted fully diluted earnings per share to be in the range of 64 to 68 cents for financial 2022.
Origin Enterprises shares were last traded on Thursday at €4.38.
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