Agronomy service provider Origin Enterprises has reported a strong start to the 2019 financial year, with its overall revenue jumping by 24% in the last quarter.
The group has just released its trade update for the three months up to October 31, 2018, which found that there had “been a positive start to trading for the 2019 financial year in the seasonally quiet first quarter”.
In terms of its trade within Ireland and the United Kingdom only, Origin reported a “good performance”, with a 19% upswing in revenue.
In raw figures, Origin’s revenue for quarter one of the 2019 financial year was €430 million, compared to €346 million in the same period last year – in Ireland and the UK that figure was €261 million this quarter, compared to last year’s figure of €219 million.
The growth here and in Britain is, according to the group, a result of a 14.4% increase in sales of agronomy services and crop inputs, bolstered by its acquisition of the Bunn fertiliser business last year.
The group recently acquired Brazilian fertiliser provider Fortgreen, which it says will give them a niche in the southern hemisphere growing season.
More than 65% of Fortgreen’s revenue is earned in the first half of Origin’s financial year, which, the latter argues, will give it a more balanced revenue stream throughout a 12-month period.