DCC has further expanded its presence in Britain by paying an initial £9.6 million (€10.8m) for the Nottinghamshire-based recycling business, Oakwood Fuels.

Business support services group DCC has announced the acquisition of UK company Oakwood Fuels.

DCC has slightly upgraded its outlook for its current financial year, by saying it now expects operating profits to be up by 5% to 10% for the 12 months to the end of March.

DCC is looking to aggressively grow its presence in the waste management and recycling services sector in Britain over the next few years.