LONDON (ShareCast) - (Sharecast News) - International support services group DCC said interim pre-tax profits rose 17.2% to £85.9m as three of its divisions reported higher earnings and offset a seasonally weaker performance in its LPG unit.
Group adjusted operating profit on continuing activities increased by 15.9% (up 16.5% on a constant currency basis) to £141.9m, with all divisions performing in line with expectations.

Adjusted earnings per share on continuing activities rose 12.1% to 107.1 pence, while the interim dividend increased by 10.0% to 44.98 pence per share.

Overall, group revenue increased by 24.7% to £7.4bn.

Volumes in DCC LPG increased by 14.9% to 741,566 tonnes, driven by prior year acquisitions of Shell Hong Kong & Macau, Retail West and TEGA. Operating profit at the division fell 7.2% to £40.9m.

"On a like-for-like basis, volumes were modestly behind the prior year, reflecting the warmer than average temperatures across Europe.

DCC Retail & Oil volumes increased by 2.4% to 6.2bn litres, benefiting from acquisitions completed in the prior year. Organic volumes were modestly behind the prior year, primarily reflecting the warmer weather in Europe, DCC said.

The healthcare division traded in line with expectations with operating profit up 22.2% to £26.9m due to strong organic profit growth, particularly in GP supplies and medical devices.

Operating profit in DCC Technology rose 25% to £17.8m. The business benefited from the first-time contribution from the acquisitions of Stampede and Kondor and also from good organic growth in the UK and Ireland, DCC Technology's largest business, the company said.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE