Origin Enterprises Non-Executive Chairman Rose Hynes Resigns; Solid 3Q performance

By Anthony O. Goriainoff

Origin Enterprises PLC said on Friday that non-executive chairman Rose Hynes will not seek re-election at the November annual general meeting and that she delivered strong performance across all segments in the third quarter of the financial year. 2022.

The Irish agribusiness group, listed in Dublin and London, said Gary Britton has been appointed chairman-elect and will succeed Ms Hynes after the AGM. He is currently Chairman of the Audit and Risk Committee.

The company said that while it delivered strong performance across all segments in the quarter ended April 30, volume performance in its seed and crop protection portfolios was offset by lower fertilizer demand. He added that this stems from significantly higher raw material costs.

Origin said third-quarter revenue rose 47% year-on-year to €880.6 million ($940.6 million) and year-to-date revenue was up 50% to reach 1.76 billion euros.

The company said strong crop prices continued to support strong on-farm sentiment, with crop establishment and weather conditions generally favourable.

The company said that – excluding any impact from its ongoing share buyback program – its full-adjusted diluted earnings per share forecast for fiscal 2022 was between 64 euro cents and 68 euro cents.

Write to Anthony O. Goriainoff at [email protected]

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