StockMarketWire.com - Origin Enterprises the Agri-Services group, has posted an upbeat trading update for the nine months to 30 April 2011.

Origin reports an excellent performance in line with the Group's expectations for the 2011 financial year-to-date.

Following a very positive first half, the Group performed strongly in the seasonally important third quarter of the financial year reflecting the favourable operating environment for farming.

Its Agri-Services division saw revenues for the third quarter increase by 4.3 per cent to €370.3 million. The division achieved revenues of €939.3 million for the nine months compared with €816.6 million in the corresponding period last year, an increase of 15%.

A marked recovery in profitability across the majority of primary enterprises has supported positive demand for the Group's integrated agronomy service offering and prescription farm-inputs portfolio.

According to the company, the outlook for the final quarter of the Group's financial year to 31 July 2011 remains positive and the Group is comfortable with consensus market estimates of ten per cent growth in adjusted fully diluted EPS to around 41 cents per share.




At 8:23am: [LON:OGN] share price was 0p at 3.9p



Story provided by StockMarketWire.com