DCC posts strong growth in “volatile and challenging environment”

Irish sales and marketing giant DCC said it had posted strong growth in a “volatile and challenging environment”.

The group reported an operating profit of £221.2m (€253.83m) for the six months ended 30 September.

That represented an increase of 13 percent and was driven by organic growth in the energy division and last year’s acquisition of US appliance retailer Almo.

The group’s revenue also rose 44 per cent to £10.8bn (€12.4bn) in the ‘seasonally less significant’ first half.

DCC also reported an “excellent” period of acquisition activity and has committed around £300m (€344.45) to development in this area since May.

In September, DCC’s healthcare arm completed the €245 million acquisition of medical technology company Medi-Globe, its largest acquisition to date.

DCC’s energy division also completed several transactions to expand its services and renewable energy offering, including solar panel distributor PVO in September, renewable heating solutions provider Protech in June, and Freedom Heat Pumps.

The company now expects a year of earnings growth but pointed to ongoing challenges in global commodity prices and the macroeconomic environment.

“We have made good progress in executing our capital allocation priorities,” said Chief Executive Donal Murphy.

“During the period we committed approximately £300m for acquisitions in the healthcare, energy services and renewable energy sectors. The acquisitions during this period are in line with our goal to build a significant position in the European healthcare sector and ensure we are at the forefront of decarbonizing our energy customers.”

The group currently operates in 23 countries in the energy, healthcare and technology sectors. It currently employs over 16,000 people.

https://www.independent.ie/business/irish/dcc-records-strong-growth-in-volatile-and-challenging-environment-42126828.html DCC posts strong growth in “volatile and challenging environment”

Fry Electronics Team

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