DCC in good position to expand

DCC is in a good position to further expand its energy and environmental divisions through acquisition, according to one analyst.

Merrion Stockbrokers said in a research note, yesterday, following up a visit to a number of British-based subsidiary sites within the DCC Energy division, that downward value movements could make it easier for the Dublin-headquartered support services/distribution group to rack up further growth through acquisition in the short to medium term.

At the beginning of this year, DCC bought the Burnley-based motor fuel vendor, Cooke Fuel Cards, for over €10m. Its last big buy – agreed in May, but only completed earlier this month – was for Shell Oil’s Danish-based distribution business; but it’s in Britain where the group is looking to really grow.