29th Sep 2021 09:47
(Alliance News) - Dublin-based Origin Enterprises PLC on Wednesday said it hiked its payout after its performance improved in its most recently ended financial year.
The agronomy advice, crop inputs and digital agricultural solutions provider said revenue for the financial year that ended July 31 increased by 4.4% to EUR1.66 billion from EUR1.59 billion generated the year before. On a constant currency basis, revenue rose by 7.2% year-on-year.
Pretax profit, meanwhile, increased by 42% to EUR55.3 million from EUR39.0 million recorded in financial 2020.
Origin Enterprises declared a final dividend of 7.85 euro cents per share, giving total dividend of 11.00 cent for the year, up from 3.15 cents paid the year prior.
"FY21 saw a much-improved performance for the group, compared to a challenging FY20 impacted by extreme weather and the onset of the Covid-19 pandemic," said Chief Executive Officer Sean Coyle.
"Although we experienced a delayed season in FY21 following prolonged cold weather in spring, more favourable conditions in the fourth quarter resulted in increased demand for agronomy services, crop inputs and amenity products," added Coyle.
Origin Enterprises shares were trading 5.2% lower in London on Wednesday at EUR3.13 each.
By Evelina Grecenko; [email protected]
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