Support services company DCC has reported a 14.4% rise in profit for the first half of the year, helped by growth across its divisions and the impact of its acquisitions over the past year. 

DCC said its adjusted operating profits rose by 14.4% to £122.5m from £107.1m the same time last year, beating analysts predictions of £118m. 

The company's half yearly pre-tax profits soared by almost 47% to £103m.

The Irish-headquartered, London-listed firm said its revenues for the six months to the end of September rose by 16.3% to £1.62 billion.

DCC has been looking to acquisitions to broaden its footprint beyond Europe and will spend about £550m on deals in the current financial year.  

The company's LPG business recently agreed to buy NGL Energy Partners LP's retail West LPG division Hickgas LLC to enter into the US market. 

The company said that adjusted operating profit at its liquefied petroleum gas business, which sells LPG and natural gas to industrial, commercial and domestic customers, rose 19.2% in the six months ended September 30. 

Profit at its retail and oil business, which sells and markets transport fuels and commercial fuels, rose about 8% in the half year. 

DCC, which reported its first results under new chief executive Donal Murphy, also reiterated its expectation that profit would rise for the year ending March 2018 compared to the previous year. 

Mr Murphy took over from long-time chief executive Tommy Breen in July.

Analysts currently expect full year earnings before interest, tax and amortisation to come in at £378m. Total operating profit for the year to last March was £363.6 billion. 

DCC today announced an interim dividend of 40.89 pence per share, up 10% on the same time last year. 

"The business has performed strongly, with each of our divisions recording good growth, albeit in the seasonally less significant first half of the year," commented CEO Donal Murphy.


He said that the company continues to be very active on the development front. 

"The recent completion of the acquisitions of Esso Retail Norway and MTR demonstrate the continuing opportunity for DCC to redeploy the organic cash flow of the business into attractive acquisition opportunities in each of its chosen sectors," Mr Murphy said

"In addition, the recent announcement of the acquisition of Retail West marks another important milestone
for the Group and will provide DCC with a substantial, high-quality, LPG footprint in the very large North
American LPG market," he added.

The CEO said that DCC reiterates its belief that the year ending March 2018 will be another year of profit growth and development.