Monday 26 September 2016

"Record year" for Irish conglomerate DCC which sees profits jump more than a third

Published 17/05/2016 | 07:23

DCC boss Tommy Breen
DCC boss Tommy Breen

DCC boss Tommy Breen said the company has had a record financial year, which saw its profits rise more than a third.

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Newly released results show the company posted operating profit of £300.5m in the year ending March 31.

DCC said the performance was fuelled by its energy business, where it has recently made some major acquisitions including Esso Retail France.

Mr Breen said it was a record year of performance and development

"This excellent result was driven significantly by DCC Energy, where we benefitted from the Group’s two largest ever acquisitions, and also by very strong performances from the Healthcare and Environmental divisions, notwithstanding a more difficult background for DCC Technology," he said.

"The completion and successful integration of both Butagaz and Esso Retail France were significant achievements during the year and have materially increased the scale of our Energy business. Both acquisitions are trading well."

The company's technology business saw operating profit decline by 28.8pc due to a weak performance in the UK.

DCC said it was "adversely impacted by a reduction in sales of products from one large supplier, particularly in the first half of the year, and also by weaker than anticipated demand for tablet computing, smartphone and gaming products."

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