Acquisitions made by its core energy division delivered a “significant” annualised jump in first-quarter group profits at DCC.

DCC remains on the acquisition trail as it reported annual profits growth despite facing down a slew of challenges, including “a very difficult” year in its UK technology division, a mild winter, and the low crude oil price that slowed volumes at its energy division sales.

DCC shares rose over 1.3% in London as it said it had bought a fuels distribution and retail business in Denmark.

DCC has said it remains “ambitious” to continue its growth in existing and new territories and retains “a strong, well-funded, and liquid balance sheet” in order to fund such intentions.

Support services group DCC has said that it would like to spend around £150m (€211m) per year on acquisitions.

DCC has said it remains on course to deliver a “significantly” improved profit performance for its current financial year, and that it is “well-placed” to continue its international expansion.