Profit and earnings at sales, marketing and support services group DCC rose in the year ended March 31st 2019, with all divisions across the group putting in a strong performance.
The group also announced £90 million in new acquisitions across its LPG, Technology and Retail and Oil businesses.
DCC said adjusted operating profit on continuing operations rose 20.1 per cent to £460.5 million , with adjusted earnings per share on continuing activities up 12.8 per cent to 358.2 pence.
Revenue from continuing operations was £15.2 billion, a 16 per cent rise year on year. Pretax profits were up too, rising from £316.4 million in the year ended March 31st 2018 to £326.7 million in 2019.
DCC is proposing a 13.7 per cent increase in the year’s final dividend, which will see total dividend for the year rise by 12.5 per cent and represent 25 years of dividend growth since the company’s 1994 listing.
Chief executive Donal Murphy said it had been a year of significant progress for DCC. "An excellent trading performance, very strong cash generation and continued acquisition activity across the Group exemplifies the DCC business model," he said. " I am particularly pleased that each division recorded very strong growth in operating profit and traded in line with expectations, given the mild weather conditions experienced during the year."
During the year, DCC invested about £370 million of capital in acquisitions, including DCC Technology's purchase of US-based Jam, and pro AV products distributor Stampede.
Among the deals announced on Tuesday were its first material follow-on acquisition in the US, Pacific Coast Energy; and its DCC Technology division's acquisition of Comm-Tec in Germany and Amacom in the Netherlands.
Looking ahead, DCC said it expects the coming year to be one of profit growth and development.
