Origin Enterprises completes €40 million share buyback

International agri-food group Origin Enterprises announced the completion of a €40 million share buyback programme on Monday.

The group purchased 23,000 of its own ordinary shares at one cent each on the Euronext Dublin stock exchange, bringing to more than 10 million the number of shares it has purchased since March. Origin said the average price it had paid for the shares throughout the lifetime of the buyback programme was €3.97.

The Dublin-headquartered group, which provides agronomy advice, crop inputs such as fertiliser and digital agricultural services, announced the scheme earlier this year after its half-year financial results revealed a 53 per cent increase in revenues with operating profits of €11.1 million, up from €1.2 million a year earlier.

In a trading update last month, Origin said it expected to deliver increased growth in earnings year on year, with full-year adjusted fully diluted earnings per share, excluding any impact of the share buyback programme, in the range of 64-68 cent for the full year.