DCC’s annual profits up by 17 percent

Source: Stock Market Digital

Date :21/05/2007 16:06:44

Industrial and distribution group DCC has reported pre-tax profits of €161.8 million for the year to the end of March, up 16.6 percent on the previous year.

The Irish group’s sales rose 17.7 percent to just over €4 billion.

Operating profits were up 15.7 percent to €143m. The pre-tax profit figure included €24.5 million from the sale of a site in south Dublin.

DCC chief executive Jim Flavin said the group had targeted high single-digit percentage growth in operating profits for the current financial year.

A breakdown showed that the group's energy profits rose 8 percent to €60.5 million, while its IT division DCC SerCom recorded a 35 percent rise in profits to €33.8m.

Healthcare profits also showed a slight increase, while a slow British wine market saw food and drink profits fall 2 percent to €15 million.

Environmental profits almost doubled to €10.6 million, lifted by two British acquisitions.

The company said it was actively pursuing further acquisitions in all its divisions.

May 15 2007