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    UKX   GB0001383545

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DCC confident on outlook after full-year profit rise

05/17/2016 | 03:13am EST

(Reuters) - Support services group DCC (>> DCC plc) said it expected to see another profit growth in the current financial year after it posted a 35.5 percent rise in full-year operating profit.

(Reuters) - Support services group DCC (>> DCC plc) said it expected to see another profit growth in the current financial year after it posted a 35.5 percent rise in full-year operating profit.

DCC shares jumped more than 3 percent in early trade, the second biggest gainer on the FTSE 100 index <.FTSE>.

The Dublin-based company, whose activities range from oil distribution to waste management and food distribution, said on Tuesday operating profit rose to 300.5 million pounds for the year ended March 31, from 221.7 million a year earlier.

Revenue from continuing operations was flat at 10.6 billion pounds, mainly due to lower oil prices.

DCC Energy - the company's biggest profit generator - posted a near 72 percent surge in full-year operating profit at 205.2 million pounds, driven by acquisitions completed during the year.

DCC last year announced its largest ever acquisition of French gas company Butagaz from oil major Shell <RDSa.L> for 464 million euros. It also bought oil refiner Esso SAF's (>> Esso F.) unmanned and motorway retail petrol station network in France for 106 million euros.

Shares in the company were 2.9 percent higher at 6330 pence by 0702 GMT.

(Reporting by Aastha Agnihotri in Bengaluru; Editing by Sunil Nair)

Stocks treated in this article : Esso F., DCC plc

© Reuters 2016
Stocks mentioned in the article
ChangeLast1st jan.
DCC PLC 1.73% 5632 Delayed Quote.6.95%
ESSO S.A.F. 0.00% 12.15 Real-time Quote.-5.81%
FTSE 100 1.37% 7155.95 Delayed Quote.10.05%
MSCI UNITED KINGDOM (STRD) -1.17% 1096.241 Real-time Quote.6.85%
S&P UNITED KINGDOM (PDS) 1.33% 1430.42 Delayed Quote.10.98%
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