Trading Update and Earnings Guidance

RNS Number : 7235H

Origin Enterprises Plc

08 April 2022

 

Origin Enterprises plc

TRADING UPDATE AND EARNINGS GUIDANCE

8 April 2022: Origin Enterprises plc ('Origin' or 'the Group') today issues a trading update and earnings guidance for the full year to 31 July 2022 ('FY 2022'), in advance of the publication of the Group's third quarter trading update for the period to 30 April 2022 ('Q3').

Overview

As outlined in the Interim Results Statement of 8 March 2022, the Group saw a strong first half operating performance across all three segments in the period to 31 January 2022, with an expectation to deliver solid growth in earnings for the full year to 31 July 2022.

Since then trading has continued to strengthen across the Group. The first half recovery in Ireland and UK has continued into Q3, with favourable on-farm sentiment underpinning performance in Poland and Romania, while our Latin American business is currently performing ahead of expectations.

Full Year Outlook

Consequently, the Group now believes that fully adjusted diluted earnings per share for FY 2022 will be higher than the current level of market consensus. Origin now expects to deliver increased growth in earnings year-on-year, with fully adjusted diluted earnings per share for FY 2022 anticipated to be in the range of 45 to 49 cent (excluding any impact of the on-going share buyback programme).

Capital Markets Day

The Group will host a Capital Markets Day for analysts and institutional investors on Tuesday, 10 May 2022 in London, between 14:00-17:00 GMT. Registration details for the event are available at the following link: https://originenterprises.com/capital-markets-day-2022 .

ENDS

This announcement contains inside information. The person responsible for arranging release of this announcement on behalf of Origin is Barbara Keane, Company Secretary & General Counsel.

Enquiries

Origin Enterprises plc
TJ Kelly
Chief Financial Officer	Tel:	[phone]
Brendan Corcoran
Head of Investor Relations	Tel:	[phone]

About Origin Enterprises plc

Origin Enterprises plc is an international Agri-Services group, providing specialist agronomy advice, crop inputs and digital agricultural solutions to farmers, growers, landscapers and amenity professionals. The Group has leading market positions in Ireland, the United Kingdom, Brazil, Poland, Romania and Ukraine. Origin is listed on the Euronext Growth (Dublin) and AIM markets of the Irish and London Stock Exchanges.

Euronext Growth (Dublin) ticker symbol:  OIZ

AIM ticker symbol: OGN

Website:   www.originenterprises.com

 

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