DCC on the hunt for new deals as acquisitions boost revenues

Suzie Neuwirth
THE CHIEF executive of DCC yesterday said the services group would continue to look for deals in the UK and continental Europe, after acquisitions helped drive a 6.2 per cent rise in revenue last year.

“We continue to have an appetite to deploy more capital in the UK,” Tommy Breen told City A.M. “We’d also like to grow our presence in continental Europe, with a particular focus on Holland, Austria and Germany.”

The FTSE 250-listed firm posted an 8.2 per cent rise in pre-tax profit to £187m, while revenue went up 6.2 per cent to £11.23bn.

DCC raised $750m (£451m) through a US private share placement in March to fund future growth. Breen said any acquisitions would most likely be in its three core divisions of energy, technology and healthcare, which collectively provide 90 per cent of its profits.

The firm expects operating profit and earnings per share to be around 10 per cent ahead of the prior year, with growth weighted towards the second half.