LONDON (ShareCast) - (Sharecast News) - DCC said first quarter group operating profit was "well ahead" year-on-year, driven by completed acquisitions.
It also announced it had bought a distributors in the UK and US for an enterprise value of £110m.

"DCC's profits are significantly weighted towards the second half of its financial year. At what is still a very early stage in the financial year, the group reiterates its belief that the year ending 31 March 2019 will be another year of profit growth and development," the company said in a trading statement.

DCC said it had bought Stampede Global Holdings, a US specialist distributor of professional audio-visual products and and Kondor of the UK, which provides category management services for audio and mobile accessory products to retailers across Europe.

Stampede recorded revenue of $280m in the year ended December 2017. The acquisition is DCC's first in North America.

Kondor recorded revenue of £110m in the year ended December 2017 and employs approximately 250 people.

DCC said it expects the acquisitions to generate a return on capital employed of approximately 15% in the first full year of ownership.

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