Oil and IT distribution continues to be a potent mix for DCC Group as the Dublin-listed group posted solid interim results.
DCC Group also has interests in the healthcare, environment and food sectors, but singled out its two largest divisions – IT distribution arm DCC Sercom and DCC Energy – for praise in its half-year update.
DCC Sercom, which includes UK arms Micro-Peripherals and Gem Distribution, saw revenue for the six months to 30 September inch up 1.4 per cent in local currencies to €665m, year on year.
Operating profit at Sercom rose 8.5 per cent in local currencies to €13.7m.
DCC chief executive Tommy Breen said: “DCC SerCom performed strongly, driven by excellent results in both its retail and reseller distribution businesses in Britain.”
DCC Sercom also owns Irish broadliner Sharptext, French peripherals specialist Banque Magnetique and French enterprise distributor Distrilogie. It admitted its enterprise distribution business had suffered a “difficult first half”.
DCC Group hauled in total revenues of €2.8bn for the period, a 4.3 per cent decline in constant currencies, while operating profit was roughly flat in constant currencies at €56.6m.
“This was achieved against a backdrop of difficult economic and trading conditions and a comparative period last year in which the Group achieved exceptionally strong operating profit growth of 30.3 per cent on a constant currency basis,” said Breen.
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