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DCC 'to keep seeking assets'

technology group DCC will continue to spend an average of €150m to €200m a year on acquisitions as it beds down the €106m purchase of a chain of unmanned Esso petrol stations in France, according to chief executive Tommy Breen.

Speaking to the Herald as DCC reported its interim results, Mr Breen (right) said that DCC continues to have a number of potential acquisition targets on its radar.

He said the group has both the management and financial capacity to ink further deals.

DCC lowered its profit forecasts for the full financial year due to milder weather in the UK.

It had previously expected to post between a 10pc and 12pc rise in operating profit for the period. That guidance has now been lowered to a 5pc to 10pc range increase.

In the six months to the end of September, DCC's operating profit was 6.4pc higher at £73.2m (€93.6m), while revenue was up 1.9pc at £5.5bn (€7bn).


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