Business

Business Person of the Month: Sean Coyle, Origin Enterprises

Irish agri-services group acquired UK ecology consultancy Keystone Environmental during October

Business Person of the Month Sean Coyle
Fri Nov 18 2022 - 05:00

Sean Coyle, chief executive of agri-services group Origin Enterprises, has been chosen as The Irish Times Business Person of the Month for October, an award run in association with Bank of Ireland.

The Irish-listed company acquired UK ecology consultancy and contractor Keystone Environmental during the month, having earlier reported a strong rise in full-year revenues due to soaring commodity prices.

Based in Gloucestershire, Keystone conducts pre-construction ecological studies and habitat surveys on behalf of clients applying for planning permission.

Stockbroker Davy said the deal aligned with Origin’s strategy. “While modest in scale, Keystone offers Origin a low-risk route in establishing an ecology services platform,” Davy said, adding that further bolt-ons are to be expected in due course.

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Coyle, who was appointed as Origin’s CEO in July 2020, described Keystone as an “excellent fit” for Origin to develop its ecology services. “Investment in this sector is a key priority for the group, as we broaden our offering in sustainable land use,” he said.

In results published about a week before the Keystone deal was announced, Origin reported a surge in group revenues to €2.3 billion for the year to the end of July. Its operating profit rose by 96 per cent to €119.7 million while its margins increased to 5.1 per cent, up from 3.7 per cent previously.

Origin’s share price has bucked recent market trends, rising by more than 5 per cent in the year to date.

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