DCC trading 'in line with expectations'
DCC, the services support giant whose activities span heating oil to electronics distribution, has reiterated its full year guidance for another year of profit growth and development.
In a statement ahead of its Annual General Meeting in Dublin today, the group said it traded “in line with expectations” and delivered good growth in operating profit for the first quarter ended 30 June, driven by acquisitions completed in the prior year.
DCC recently completed the purchase of Comm-Tec in Germany and Amacom in the Netherlands.
The company said both Comm-Tec and Amacom will “significantly enhance” its service offering in Continental Europe and strengthen its relationships with suppliers and customers in the region.
Earlier this year the company, headed by Donal Murphy, disposed of its UK generic pharma activities and related manufacturing facility in Ireland (Kent Pharma and Athlone Laboratories).
The disposal will allow DCC Vital to concentrate on areas such as the sales, marketing and distribution of medical products in Britain and Ireland.
In its 2019 financial year, revenue at DCC rose 16pc to £15.2bn (€17.5bn), while its adjusted operating profit was 20.1pc higher, at £460.5m (€530.5m).