Origin Enterprises Plc (OGN.L), an agriculture services provider, on Thursday reported first-quarter revenue of 469.4 million euros, lower than 532.5 million euros, recorded for the same period last year.
Agriculture segment generated revenue of 429.6 million euros, compared with prior year's 500.7 million euros. However, revenue from Living Landscapes improved to 39.8 million euros from 31.8 million euros a year ago.
Overall, first-quarter volumes were down 8.1 percent in the company's Agriculture business due to planting delays caused by persistent rainfall in the UK and Ireland. In addition, dry conditions are also delaying planting progress in Romania and Brazil.
Looking ahead, Sean Coyle, CEO of Origin, said: "Encouragingly, following recent improvements in conditions, we expect to see recovery in volumes in Q2 and overall planting levels across our geographies to return to a more normative cropping area relative to last year..."
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