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Mar 5 2024, 07:05 GMT
Origin Enterprises
Challenging weather backdrop prompts full-year downgrade
- Sectors : Foods
- Companies : Origin Enterprises
DAVY VIEW
Origin Enterprises’ H1-24 result reflects challenging on-farm conditions across its UK/Ireland markets. Group operating profit declined to €12.7m from €20.3m in the prior year period. FY24 EPS guidance of 44-49c reflects adverse weather conditions allied with cautious on-farm sentiment. We will revise our EPS forecast to 46c from our current estimate of 53.09c. On revised EPS, shares trade on a P/E of 6.8x, which is too cheap.
