DCC profits rise 6% to €116m

A STRONG second half helped push up full year pre-tax profits at DCC group by 6% to €116 million.

DCC said profits would have been even better were it not for the strengthening of the euro against sterling. Half of the company’s profits are generated in Britain, which lowered the impact of a better performance from its oil and gas business in the final six months of its financial year.

Pre-tax profits for the year to end March 2004 were ahead by 11.2% on a constant currency basis. Turnover was 2% lower at €2.19 billion, though it was ahead by 2.6% when foreign exchange movements were stripped out.