AGRI-NUTRITIONAL FIRM Origin Enterprises said group revenue for the nine months to April 30th last was down 11.5 per cent to €1.017 billion.

Earnings before interest, tax, depreciation and amortisation (Ebitda) in the third quarter were 11.1 per cent ahead of the corresponding period last year as activity has become increasingly concentrated in the second half of the financial year.

However, Ebitda for the nine months to April 30th of €55.5 million was 3.1 per cent lower than the corresponding period last year.

Origin, which is majority owned by Aryzta, said its agri-nutrition division achieved revenues of €816.5 million compared with €922.7 million in the corresponding period last year, a reduction of 11.5 per cent.

The company attributed the reduction in revenue to lower global feed and fertiliser ingredient pricing.

The food division generated revenues of €200.5 million compared with €226.7 million in the ninemonth period last year, a reduction of 11.5 per cent.

Revenues for the quarter to April 30th were 6.8 per cent lower.

The group said that while the environment for farming continues to remain “challenging”, the recent tangible recovery in key output markets is providing a welcome boost to sentiment and cash flow for primary producers.

“We continue to remain positive regarding the delivery of fullyear consensus market expectations,” it said.