Business support services company DCC has reported that operating profit was modestly ahead of the previous year, in what the group described as a seasonally less significant first quarter.
In a trading update for the quarter, DCC Energy recorded good growth, driven by acquisitions completed in the current and prior year.
DCC continues to expect that the year ending 31 March 2025 will be a year of strong operating profit growth and continued development activity.
The group has committed approximately £65 million to new acquisitions since its final results announcement in May.
The DCC Energy Division confirms the completed sale of a majority stake in its liquid gas business in Hong Kong & Macau to CITADEL Pacific Ltd for approximately £82 million.
The Group also announced the acquisition of WIRSOL Roof Solutions, based in Germany, and Cubo, which is based in the UK and Ireland.
DCC Group has also announced that Steve Holland has been appointed as Non-Executive Director to the company, effective from the conclusion of the AGM on July 11.
Having achieved two investment grade public credit ratings in the prior year, DCC established a Euro Medium Term Note programme in June. The company recently issued its inaugural public market debt instrument, a benchmark €500 million seven-year senior unsecured
bond, refinancing recently repaid and short-term maturity private placement debt.
DCC expects to announce its interim results for the six months ending 30 September 2024 on Tuesday 12 November.
