DCC reports 'good growth' in Q1 amid boost from acquisitions
Source - SMW
DCC said it had traded in line with expectations and delivered 'good growth' in operating profit for the first quarter, driven by acquisitions completed in the prior year.
The company said its profits were significantly weighted towards the second half of its financial year, and reiterated expectations that the year ending 31 March 2020 would be another year of profit growth and development.
In its technology segment, the company recently completed the acquisitions of Comm-Tec in Germany and Amacom in the Netherlands, following receipt of customary regulatory approvals.
Both Comm-Tec and Amacom would 'significantly enhance DCC Technology's service offering in Continental Europe and will strengthen its relationships with suppliers and customers in the region,' the company said.
DCC Retail & Oil, meanwhile, recently finalised the creation of a new branded aviation fuels marketing and distribution business in Denmark with Shell Aviation, which involved Shell Aviation purchasing an interest in DCC's existing Danish aviation fuels business.