DCC plc acquired FindlaterGrants, an established Irish wine and spirits distribution business in September 2008 from C&C.

Irish business services group DCC today reported a 15.7% increase in pre-tax profits to €47.3m for the six months to the end of September. Reported revenues jumped  by almost 41% to €3.178 billion boosted by a strong performance in its largest division DCC Energy which gained from cold weather.

Adjusted earnings per share rose by 13% to 54.84 cent while the dividend per share rose by 10% to 22.61 cent.

DCC Energy revenues jumped 56% to €2.096 billion while operating profits rose 56.5% to €22.28m. The firm said this growth was driven by integration synergies from acquisitions and the much colder weather in April compared to the same time last year.

The oil distribution business also showed significant profit growth and revenues at the SerCom division rose by 20.6% to €694.3 for the six months to September. Operating profits rose by 8.3% to €13.5m.

DCC's Healthcare division revenues jumped by 30.6% to €172.7m while operating revenues fell by 5.2% to €9.8m.

The company's Environmental division reported revenues of €47.3m for the six month period, up 3% on the same time last year. Operating profits rose marginally to €7.3m on the back of strong organic growth. DCC said it is well placed to take advantage of the trend towards increasing levels of recycling in the UK.

DCC's Food and Beverage unit saw revenues advance 4.2% to €168.2m while operating profits rose by 3.6% to €7.2m.

DCC shares were up 6.5% to €13.27 in Dublin this morning.

Commenting on the results, Tommy Breen, Chief Executive said: “DCC achieved excellent profit growth in the first half, again demonstrating the resilience of its business model. Group operating profit grew by 17.4% (30.3% on a constant currency basis) while adjusted earnings per share increased by 13.0% (26.5% on a constant currency basis).  This growth was driven by particularly strong results in DCC’s largest division, DCC Energy, and by strong performances in DCC SerCom and DCC Environmental. DCC Healthcare and DCC
Food & Beverage achieved more modest constant currency profit growth.

DCC has had an encouraging start to its seasonally more significant second half. The Group is, however, operating in an increasingly challenging and unpredictable economic environment which has impacted, and will continue to impact, the business. Nevertheless, the Group’s diversified business model provides defensive qualities and DCC continues to anticipate that it will achieve approximately 10% growth in earnings on a constant currency basis in the year to 31 March 2009. The impact of the translation into Euro of the significant proportion of Group profits that are Sterling denominated, at the current exchange rate, would result in reported earnings being in line with those reported last year.

DCC has a strong balance sheet and a favourable funding and liquidity position. The Group remains ambitious to grow its business through organic development, as well as by acquisition, and is well placed both commercially and financially to take advantage of opportunities arising in these more challenging times.”

Results detail