Revenue rises at Origin Enterprises, pretax profit dips

Agri-business Origin Enterprises said revenue rose in the first half of the year, boosted by higher volumes, but pre-tax profit dipped.

Announcing its interim results for the six months ending January 31st, 2026, the group said revenues rose €20 million to €852.6 million, with activity in both its agriculture and living landscapes units in line with expectations.

Operating profit was up 2.4 per cent to €17.4 million, including the impact of Origin’s joint ventures. But pretax profit fell almost 13 per cent to €6.1 million.

Adjusted earnings per share were 4.55 cent, down from 5.17 cent in 2025 as higher average debt impacted finance costs.

Net bank debt rose to €283.5 million, up from €270.1 million, which Origin said reflected seasonal working capital requirements and inventory positioning in advance of the introduction of Carbon border adjustment mechanism charges from January 1st 2026.

Origin’s business is typically weighted towards the second half of the financial year.

In its agriculture division, growth in Ireland, the UK and Latin America was partially offset by a reduction in Central Europe. The group said planted areas in the UK were ahead of the previous year, with a continued move towards winter planting in Central Europe and expanded soybean and corn area in Latin America driving volume growth. However, weaker grain, oilseed and dairy prices weighed on farm sentiment.

The living landscapes division saw operating profit rise 8.3 per cent as early season organic growth in the sports and landscapes businesses boosted the division. Demand across the landscapes division was robust at the start of the second half of the year.

“The group delivered a solid first-half performance. Activity across both Agriculture and Living Landscapes was in line with expectations, establishing a strong operational base across our markets as we move into the more significant second half,” said Origin chief executive Sean Coyle.

“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.”