DCC has raised its profits estimate for the year to the end of March 2008, as it announced the acquisition of a British-based oil distribution business.
In a statement issued ahead of its AGM, DCC said operating profit growth in its first quarter to the end of June was satisfactory, particularly as mild weather had hit its energy division. But other divisions - health, IT, food and environmental - were in line with targets.
DCC said it now expected 'low double-digit' percentage growth in operating profits, compared with the high single-digit growth it had signalled in May.
It also said the sale process for its 49%-owned Manor Park Homebuilders was continuing.
DCC separately announced the €74.2m purchase of CPL Petroleum. CPL supplies transport fuels and heating oils to commercial, industrial, domestic and agricultural customers throughout Britain.
It operates from 39 depots with a fleet of 200 road tankers and 481 employees. It made underlying operating profits of €9.4m on sales of €620m in the year to the end of March.
DCC shares closed up 17 cent to €23.33 in Dublin this evening.