DCC 2018 interim results
Strong first half performance with Group adjusted operating profit on continuing activities increasing by 14.4% (up 9.7% on a constant currency basis) to £122.5 million, with all divisions recording growth on the prior year.
Adjusted earnings per share on continuing activities up 16.1% (11.5% ahead on a constant currency basis) to 95.5 pence.
Interim dividend increased by 10.0% to 40.89 pence per share.
The Group continues to be very active from a development perspective. Recently, DCC Retail & Oil completed the acquisition of Esso Retail Norway and DCC Technology completed the acquisition of MTR. DCC LPG remains on schedule to complete the acquisition of Shell Hong Kong & Macau before the end of the financial year.
In addition, on 7 November 2017, DCC LPG announced its agreement to acquire Retail West from NGL Energy Partners, for an enterprise value of $200 million (£152 million). This will be DCC LPG's first step into the very large US LPG market and is DCC's first substantial acquisition in North America.
Reflecting the announced acquisition activity to date, the Group's cash spend on acquisitions in the current financial year will be approximately £550 million.
The Group reiterates its belief that the year ending 31 March 2018 will be another year of profit growth and development.