DCC first half profit up amid growth across divisions

Support services company DCC posted a rise in first-half profit on Tuesday thanks to a solid performance across its divisions.

In the six months to 30 September, adjusted operating profit was up 14.4% to £122.5m, with all divisions recording growth on the previous year. Meanwhile, pre-tax profit increased 47% to £103m and group revenue rose 17.1%, or 13.2% at constant currency, to £6.4bn.

DCC lifted its interim dividend by 10% to 40.89p per share and reiterated its expectations that the year ending 31 March 2018 will be another year of profit growth and development.

Chief executive Donal Murphy said: "I am pleased to report that the first half of the year has been another very active and successful period for DCC. The business has performed strongly, with each of our divisions recording good growth, albeit in the seasonally less significant first half of the year.

“DCC continues to be very active on the development front. The recent completion of the acquisitions of Esso Retail Norway and MTR demonstrate the continuing opportunity for DCC to redeploy the organic cash flow of the business into attractive acquisition opportunities in each of its chosen sectors. In addition, the recent announcement of the acquisition of Retail West marks another important milestone for the group and will provide DCC with a substantial, high-quality, LPG footprint in the very large North American LPG market.”