DCC PLC on Tuesday said operating profit for its third quarter grew due to a ‘good’ trading performance that was supported by acquisitions from last year.

The FTSE 100-listed Irish support services firm stated operating profit for its third quarter ended December 31 was in line with expectations and ahead of the prior year, though it did not provide an actual figure.

The Dublin-based company explained that its trading performance during the period benefitted from acquisitions completed in the year before.

Further, DCC said the growth was achieved against the anticipated negative impact of currency translation.

The support services company continued to develop during the period and completed the acquisition of Almo Corp, DCC’s largest acquisition to date.

The Philadelphia, US-based sales, marketing and distribution business was acquired for an enterprise value of $610 million or £462 million.

DCC stated that the acquisition was a ‘major step’ in the continuing expansion of the firm and its division DCC Technology in North America.

Including the acquisitions of Almo, the firm has committed £560 million to new acquisitions across Europe and North America since May 2021, it said.

In December it also completed the acquisition of Naturgy Ireland. The company is a likewise Dublin-based supplier of renewable power, natural gas and energy services to large commercial and industrial customers in Ireland.

Looking ahead, the support services company continues to expect that the financial year ending March 31 will be another year of strong operating profit growth, in line with current market consensus expectations.

In its financial year ended March 31, 2021, DCC generated revenue of £13.4 billion and operating profit of £530.2 million.

Shares in DCC were down 1.0% at 6,396.00 pence each on Tuesday morning in London.

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