Distribution company DCC saw its share price jump 5 per cent yesterday after it announced better-than-expected results for the year to March 31st, 2001.

DCC benefited from robust organic growth in its three main areas of operation, and revenue rose 42 per cent to €1.8 billion (£1.42 billion) while operating profits were up 24 per cent to €91.7 million (£72.22 million). DCC shareholders can look forward to an increased dividend payment which was raised 20 per cent to 21.12 cents per share.

Chief executive, Mr Jim Flavin, said DCC's focus was on achieving strong organic growth, supplemented by complementary acquisitions.

He announced that heads of agreement had been signed to acquire part of BP's commercial, agricultural and domestic oil business in Scotland and Northern England.

Mr Flavin said he could not disclose the cost of the acquisition, which included 14 locations and employed 200 people, at this time but considered it "strategically" important for the group. DCC, which has net cash of €83 million, was actively pursuing a range of bolt-on acquisitions in the IT, energy and healthcare areas, he said.

Operating profits were up 52 per cent in the IT section with Sercom Distribution showing a strong performance in all its operating subsidiaries.

The energy division showed operating profits up 17 per cent to €23.6 million and operating profits rose 27 per cent in healthcare to €20.3 million.