Origin Enterprises plc reports revenue results for the third quarter and nine months to 30 April 2018. Revenues for the third quarter were 4.0% lower at €526.7 million. On an underlying basis, (excluding acquisitions and at constant currency) revenue decreased by 7.8% for the period. The key driver of the decline was reduced sales demand due to a combination of delayed and lower levels of seasonal activity.

Revenues for the cumulative nine month period were €1,113.6 million compared with €1,113.1 million for the prior year, representing an underlying decrease of 2.1%. Like-for-like business volumes (agronomy services revenue and crop input volumes, excluding crop marketing volumes) declined 8.7% and 4.0% for the period and year-to-date, respectively.

Full year earnings guidance in adjusted diluted earnings per share of between 47.5 and 48.5 cent.