Agri-services group Origin Enterprises has reported higher profits and revenues for the year to the end of July compared to the "challenging" previous 12 month period which was impacted by extreme weather and the onset of the Covid-19 pandemic.

Revenues for the year at Origin Enterprises rose by 4.4% to €1.658 billion while its operating profit jumped by over 38% to €61m.

The company said its net bank debt reduced to €14.4m from €53.2m the previous year.

It has proposed a final dividend of 7.85 cent per share giving a total dividend of 11 cent for the year.

During the year the group bought Greentech Limited, the UK's manufacturer and distributor of landscaping, forestry and ground maintenance equipment.

The business is integrating well and performing in line with expectations, Origin said.

Origin Enterprises's chief executive Sean Coyle said that FY21 saw a much-improved performance for the Group, compared to a challenging FY20 impacted by extreme weather and the onset of Covid-19 pandemic.

"Although we experienced a delayed season in FY21 following prolonged cold weather in spring, more favourable conditions in the fourth quarter resulted in increased demand for agronomy services, crop inputs and amenity products," he added.

Mr Coyle said that while the business recovered from a very challenging trading environment in 2020, Covid-19 continued to present operational challenges for the business in 2021.

"However, as a result of the collective efforts of all our people and the resilience of our business model, we continued to serve our customers, delivering revenue and operating profit growth together with strong operating cash flow," the CEO said.

"Although we have encountered minimal supply chain challenges to date, we continue to monitor the Covid-led global supply challenges being experienced," he said.

"Through continued disciplined capital deployment and the strength and experience of the leadership team in place, combined with our scalable and diversified market positions, I am confident we will progress our growth ambitions successfully in FY22 and beyond," he added.

Shares in the company moved higher in Dublin trade today.