Business services support group DCC today announced robust full year results, reporting turnover up 11%, operating profit on continuing activities up over 13%, and profit before tax up almost 12%.
Over the last five years, the firm has achieved compound annual growth in adjusted earnings per share of 19.6%, and of 18.8% over the last ten years.
Commenting on the results, DCC's chief executive and deputy chairman, Jim Flavin, said that DCC is commercially and financially well placed 'to generate continuing good growth both organically and by acquisition.'
DCC achieved accelerated operating profit growth from continuing activities of 18.5% in the second half of the year, which historically sees a greater proportion of the group's profits generated. It compares with growth of 4.7% in the first half. This resulted in a 13.2% increase in operating profits from continuing activities to €111.1m for the year.
UK based activities contributed 53% of group operating profits, Irish activities 46% and other areas 1%.
Turnover from continuing activities was up 11% to €2,242.9m, of which sales of DCC's own brands accounted for approximately 42%.
Broken down by division, energy - which comprises 41% of DCC activity - showed growth of 30%, with operating profits of €45.5m. On the IT side, which makes up 30% of DCC business, growth was at 7.7% with operating profits of 32.9m.
Food and healthcare showed operating profit of €23.2m, with growth down 14.7%. It makes up 21% of DCC business. The firm's other business, wihich is mainly to do with Manor Park and makes up 8% of the company, grew by 74.6% with operating profits of €9.5m.
DCC shares closed 10 cent higher at €11.40 in Dublin this evening.
