International agronomy services group Origin Enterprises has appointed a new chief financial officer (CFO), who will step into the role in July.
Colm Purcell will take up his duties as CFO on July 15, and will then be appointed as an executive director of the company on September 25, to coincide with the publication of Origin’s full year financial results.
Purcell, who is aged 45, is currently the CFO of the Glanbia Nutritionals Division of Glanbia plc.
He has worked in the US and Ireland with Glanbia for the last 11 years, and has held a number of senior leadership roles, including group financial controller and director of financial planning and analysis of the North American Glanbia Performance Nutrition business.
Prior to his time at Glanbia, Purcell was an audit director with international accountancy firm KPMG, and qualified as a chartered accountant with KPMG in 2001.
Commenting on Purcell’s appointment, Gary Britton, chairperson of Origin Enterprises, said: “Following a thorough recruitment process, we are delighted to welcome an executive of Colm’s calibre and expertise to Origin as we prepare for our next phase of growth.
“Colm brings a wealth of sector experience to the group, including the global agriculture and food production sector. He had a proven track record in financial leadership, commercial and operational challenge and strategy implementation,” Britton added.
Purcell himself said: “I am delighted to be joining Origin at this exciting time in the group’s development. I am very much looking forward to working with the Origin team and to contributing to the group’s ambitious growth plans.”
Origin Enterprises half-year results
Last month, Origin Enterprises announced its interim results for the financial half-year ended January 31, 2024 (H1 2024).
The group, which provides agronomy services, crop inputs and digital solutions in the area of land use, said that its underlying business volumes, excluding crop marketing, reduced by 2.6% due to adverse weather conditions impacting autumn and winter planting activity in the northern hemisphere.
An expected correction in global feed and fertiliser raw material pricing contributed to the decrease in H1 2024 group revenues to €854.9 million and operating profit to €12.7 million.
Origin said this is “set in the context of a very strong” H1 2023 performance driven by rising commodity markets and strong on-farm demand, which saw group revenues of almost €1.2 billion and operating profit of €20.3 million.