Business services support group DCC has reported an 11% rise in revenues for the six months to the end of September, while operating profits rose by 38%.
Today marks the first results from DCC since the company moved its market listing from Dublin's ISEQ index to the London Stock Exchange.
Revenues for the six month period rose by 11.1% to £5.419 billion sterling from £4.876 billion, with about two thirds of the growth coming from acquisitions.
Operating profits grew by 38% to £69.4m from £50.3m. Pre-tax profits for the half year grew by 37.6% to £42.5m from £30.9m.
The company said it was increasing its interim dividend by 10% to 26.12 pence per share.
DCC reiterated its guidance for full year operating profits to rise by about 15% compared to the previous year, and adjusted earnings per share to grow by about 13%.
"As DCC enters its seasonally more significant second half, its full year guidance continues to be set against the important assumption that there will be normal winter weather conditions,'" commented chief executive Tommy Breen.
Revenues at DCC Energy rose by almost 7% to £4.093m while operating profits racing 77.8% higher to £33.5m as the division was boosted by the colder that normal conditions in the first quarter of the year. It also benefited from the successful integration of acquisitions and increased operational efficiency.
The company said it sold 5 billion litres of product in the six month period, up 12.7% on the first half of last year. It said the integration of the former Total oil distribution business in the UK was successfully completed in the first quarter and the planned synergies ae now being fully realised.
Operating profits at DCC SerCom rose by 10.9% to £14.1m while half yearly revenues increased by 29.1% to £959.2m. The company noted that DCC SerCom is now the market leader in the rapidly growing tablet market in the UK, however, it reported more difficult trading conditions in France where a weak demand environment persists.
Revenue at DCC Healthcare rose by 29.5% to £195.1m and operating profits climbed 29.3% to £12.6m, boosted by first time contributions from Kent Pharma, which was bought last February, and Leonhard Lang UK, which was acquired in July.
DCC Environmental's revenues rose by 11.5% to £64.9m while operating profits inched 0.2% higher to £6.3m. The company said that growth in the non-hazardous waste management business was offset by lower margins in the hazardous waste sector.
Driven by good overall cost control, revenues at DCC Food and Beverage sector rose by 10.8% to £107.3m while operating profits increased by 7% to £2.9m.
"The Group reiterates the guidance previously provided for the year to 31 March 2014, which is that operating profit will be approximately 15% ahead of the prior year and that adjusted earnings per share will be approximately 13% ahead of the prior year," CEO Tommy Breen said.
"DCC retains a strong equity base, long term debt maturities and significant cash resources, which leave it very well placed to continue the development of its business in existing and new geographies," he added.
