StockMarketWire.com - Origin Enterprises said it delivered a very satisfactory performance in the seasonally important Q3 with year-to-date revenues well ahead of the prior period. It has also hiked its FY earnings guidance.

"The result is set against the background of robust on-farm activity levels supporting increased demand for agronomy services and inputs."

Following the strong Q3 performance Origin was increasing its FY earnings guidance in adjusted diluted earnings per share by c.3% to about 55.0 cent.

"The Group's earnings profile is significantly weighted towards the second half of the financial year with c.90% of earnings typically arising in the second half," the company said.

Origin added that in FY 2014 Associates and joint ventures would account for c.13% of the Group's earnings compared to c.24% last year, reflecting the completion of the disposal of the Group's marine proteins and oils business in August 2013 as well as strong underlying growth in the core Agri-Services business and the acquisition of a controlling interest in Agroscope.






Story provided by StockMarketWire.com