DCC has said trading in its business was 'modestly' ahead of expectations in the first three months of its financial year to the end of June.
In a trading update issued ahead of its AGM in Dublin this morning, it said each of its five divisions - which include health, energy and food - performed in line with or ahead of expectations.
For the year to the end of March 2011, DCC said it expected an increase of 5% in trading profits, when currency movements are stripped out. In euro, the increase will be around 10%, assuming an average exchange rate of 84p sterling to the euro.
DCC said it was in a strong financial position and was well placed to benefit from any acquisition opportunities.
During its first quarter, it spent €36m on deals, including two oil importation and storage terminals in Scotland for €19m.
DCC shares were up 0.4% at €18.44 in Dublin by lunchtime.
