Business support services company DCC has said it is trading in line with expectations so far this year.
In a trading update issued ahead of its AGM in Dublin today, DCC said it had recorded good growth in group operating profit for the first quarter to the end of June.
This growth came on the back of acquisitions completed in the previous year.
Pointing out that its profits are significantly weighted towards the second half of its financial year, DCC said that at what is still a very early stage in is financial year, it believes that it will see another year of profit growth and development.
DCC Vital recently agreed a deal to sell its UK generic pharma activities and related manufacturing facility in Ireland (Kent Pharma and Athlone Laboratories), subject to regulatory and other consents.
It said the sale will sharpen the strategic focus of DCC Vital, allowing it to concentrate on those areas where it has market leading positions and sustainable competitive advantage, in particular in the sales, marketing and distribution of medical products in Ireland and the UK.
DCC's Technology division also recently completed deals to buy Comm-Tec in Germany and Amacom in the Netherlands.
It said that both buys will significantly enhance its service offering in Continental Europe and will strengthen its relationships with suppliers and customers in the region.
Meanwhile, DCC Retail & Oil recently finalised the creation of a new branded aviation fuels marketing and distribution business in Denmark with Shell Aviation.
DCC has significant operations across 18 countries, with market-leading positions in each of its LPG, Retail and Oil, Technology and Healthcare divisions.