Origin Enterprises has confirmed that its team in Ukraine has restarted “limited localised operations” in areas away from conflict.

The agri-services group made the announcement as it published its interim results statement for the half year ended January 31, 2022 (H1 2022).

“The announcement of these results today is completely overshadowed by the terrible events in Ukraine following the Russian invasion,” Sean Coyle, Origin CEO, said.

“Right across the wider Origin Group we are hugely concerned for our colleagues and have been supporting the safety and wellbeing of our team and their families in the region.

“We are deeply saddened by the loss of innocent lives and support the strong international response.”

The company’s activities in Ukraine had been temporarily suspended but have now resumed where it is safe to do so. Staff and their families are also being supported to cross the borders into Poland and Romania.

Origin results

Group revenue at Origin during H1 2022 increased by over 53% to €877.1 million.

The crop services provider explained that global feed and fertiliser price inflation represented over 80% of the revenue growth.

Operating profit was €11.1 million, which was up from €1.2 million in H1 2021.

Origin pointed to “increased overall demand driven by a combination of forward buying by farmers and an encouraging autumn/winter planting season”.

Origin noted that rising fertiliser prices resulted in a 5% reduction in demand, security of product supply will be a key focus for the company ahead of peak seasonal demand.

The results also show that the company’s performance in Ireland and the UK had a “notable recovery” in its seed and crop protection businesses.

€19.5 million of cash flow was generated through the sale of Origin property in Co. Cork.

“Although in the seasonally quieter trading period, the group’s first half performance represents a positive foundation for the full year, with an encouraging cropping profile across each of our geographies.

“We are conscious of the challenges of price volatility and risk in the supply chain and are taking appropriate actions to mitigate these risks where possible,” Sean Coyle concluded.