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Annual Results

DCC enjoys strong profit growth

16 May 2017 07:42

All divisions of DCC recorded strong profit growth, with operating profit on a continuing basis up by 20.9% (12.8% on a constant currency basis) to £345m.

Adjusted earnings per share on a continuing basis increased 18.1% (10.3% on a constant currency basis) to 286.6p.

The company proposed a 16.3% increase in the final dividend. With the interim dividend increase of 12.5%, meant the total dividend for the year would increase by 15%, the 23rd consecutive year of dividend growth since DCC listed in 1994.

DCC said it had excellent cash flow performance, with free cash flow conversion of 114% and a return on total capital employed of 20.3%.

It also had an active period of corporate development, with over £550m committed to acquisitions, including the acquisition of Esso's retail network in Norway, the acquisition of Shell's LPG business in Hong Kong & Macau, DCC's first material step beyond Europe, and further acquisition activity across DCC Energy, DCC Healthcare and DCC Technology.

The disposal of DCC's environmental division for £219m brought increased strategic focus to the Group.

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