Second-half earnings, an upbeat outlook for 2017, and an acquisition of a gas supplier in France helped shares in DCC to rally after a recent rout.

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 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.

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.

International sales, marketing and distribution business DCC yesterday raised more than €270m in a share placing, on the same day it announced bigger-than- expected earnings growth and its largest ever acquisition.