12th Jul 2019 08:52
(Alliance News) - FTSE 100-listed DCC PLC on Friday said it traded in line with expectations for the first quarter ended June 30 and expects a year of growth to follow.
The Irish support services group said profits are "weighted towards the second half of its financial year", it said, and it expects profit growth for financial 2020. In 2019, the company reported a pretax profit of GBP327.4 million on a revenue of GBP15.23 billion.
The company said its strong first quarter, ended June 30, was driven by acquisitions which were completed before the conclusion of the last financial year, ended March. The firm acquired Pacific Coast Energy, a US liquefied petroleum gas distribution business in a deal worth GBP30.0 million towards the end of financial 2019.
The FTSE 100 constituent's Technology division acquired German company Comm-Tec and Dutch firm Amacom. DCC said the acquisitions will enhance the technology unit's offering in Continental Europe and will strengthen its relationships with suppliers and customers in the region.
The Retail & Oil division completed small complementary acquisitions in the lubricants and retails sectors before the end of the last financial year and the company said these units have "successfully integrated into the existing business", DCC added.
The company will announce its results for the six months ending September 30 on November 12.
Shares in DCC rose 0.2% at 6,958.00 pence each in London on Friday morning.
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