DCC reveals rise in revenue and operating profits
DCC has today announced increases in revenue and operating profits for the six months ended September 30, 2012.
Revenue increased to €6.1bn (+32.5% on continuing activities and on a constant currency basis). Approximately 80% of this growth was driven by acquisitions, principally in DCC Energy, the company said.
Operating profit increased to €62.4m from €57.2m in the prior year (+1.1% on continuing activities and on a constant currency basis).
Operating cash flow increased to €79.3m from €71m in the prior year.
The interim dividend was increased by 7.5% to 29.48 cent per share.
Acquisition expenditure of €133m was committed, including the deployment of circa €100m in LPG acquisitions in Britain, Scandinavia and the Benelux region.
The firm said that it continues to anticipate that the year to March 31, 2013 will see strong growth in operating profit over the prior year.
"Operating profit and adjusted earnings per share on continuing activities in the seasonally less significant first half were modestly ahead of budget and the prior year," said chief executive Tommy Breen.
"As DCC enters its seasonally more significant second half, its full-year guidance continues to be set against a weak economic environment and the important assumption that there will be a return to more normal winter temperatures compared to the extremely mild winter last year, which should give rise to a strong recovery in DCC Energy’s operating profit.
"The Group remains very well placed to continue the development of its business in existing and new geographies."
