Revenue increase for agri-services group

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ORIGIN Enterprises plc, the international Agri-Services group, providing specialist agronomy advice, crop inputs and digital agricultural solutions to growers has announced its full year results up to July 31st, which show a 4.4% revenue increase. 

Performance Highlights
•    Group revenue increase of 4.4% to €1,658.4 million, 6.6% on an underlying basis
•    Operating profit1 of €61.0 million, an increase of 38.3%, 42.1% on an underlying basis
•    Group operating margin of 3.7% (2020: 2.8%)
•    Adjusted diluted earnings per share3 of 35.50 cent
•    Strong cash generation with free cash flow of €49.2 million (2020: €64.3 million)
•    Net bank debt4 reduced to €14.4 million (2020: €53.2 million)
•    Working capital outflow of €4.0 million (2020: Inflow of €30.3 million)
•    Proposed final dividend of 7.85 cent per share giving total dividend of 11.00 cent
•    Substantial recovery in Ireland/UK operating segment together with continued underlying growth in CE and LATAM operations
•    Divestment of Pillaert, the Group’s Belgian fertiliser business for €15.5 million
•    Acquisition of Green-tech, the UK’s leading landscape, forestry and grounds maintenance equipment provider
•    Extension post year end of Group’s banking facilities to 2025 with pricing linked to ESG performance

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