A FTSE 100 Company


DCC is a broadly based group, operating across five focused divisions: Energy, Technology, Healthcare, Environmental and Food & Beverage.

DCC currently employs approximately 10,000 people and is listed under Support Services on the London Stock Exchange.

DCC's objective is to continue building a growing, sustainable and cash generative business which consistently provides returns on total capital employed significantly ahead of its cost of capital.


DCC Energy is the leading oil and liquefied petroleum gas (LPG) sales, marketing and distribution business in Europe. In oil, DCC Energy is the market leader in Britain and Sweden and one of the leading oil distribution businesses in Austria, Denmark and Ireland. In LPG, DCC Energy is market leader in Norway and Sweden, joint leader in the Netherlands and is a strong number two player in both Britain and Ireland.

DCC Technology is a leading sales, marketing, distribution and supply chain business providing a broad range of consumer and SME focussed products and services in Europe.


DCC Healthcare is focussed on the sales, marketing and distribution of pharmaceuticals and medical devices in the British and Irish markets and the provision of outsourced product development, manufacturing, packing and other services to Health and Beauty brand owners, principally in the areas of nutrition and beauty products.


DCC Environmental is a leading British and Irish provider of recycling, waste management and resource recovery services to the industrial, commercial, construction and public sectors, operating in both the non-hazardous and hazardous segments of the market. This year DCC Environmental handled approximately 1.4 million tonnes of waste through its twenty one facilities in Britain and Ireland.


DCC Food & Beverage is principally focussed on the sales, marketing and distribution of food and beverage products in Ireland.

Shares - A stellar record of earnings growth, high levels of return on capital employed and consistent dividend growth.

DCC to dispose of Robert Roberts and Kelkin

RNS


RNS Number : 9750S

DCC PLC

30 September 2014









30 September 2014





DCC to dispose of Robert Roberts and Kelkin



DCC plc, the international sales, marketing, distribution and business support services group, has agreed to dispose of Robert Roberts (including Findlater Wine & Spirits) and Kelkin (together the "businesses") to Valeo Foods, a leading Irish foods group. The disposal is conditional on clearance from the Irish Competition Authority.



Robert Roberts is a leading supplier of own brand and agency branded food and beverage products in the indulgence categories while Kelkin is a leading supplier of ambient healthy foods, beverages, fine foods and vitamins, minerals and supplements. Both Robert Roberts and Kelkin operate principally in the Irish market. In the year ended 31 March 2014, the businesses generated combined revenue of €120 million (£101 million) and combined operating profit of €7.3 million (£6.2 million), representing approximately 80% of the operating profit of DCC's food & beverage division. DCC's food & beverage division represented 3.7% of DCC's operating profit.



The total consideration for the businesses is €60 million (£47 million) on a debt free and cash free basis, payable in cash on completion. DCC expects to realise a modest gain on disposal over the carrying value including goodwill.



Tommy Breen, Chief Executive of DCC, said today:



"Robert Roberts, Findlater Wine & Spirits and Kelkin have a long and successful history in the Irish market and we expect them to continue to grow and develop under Valeo Foods' ownership."

20 Oct Investec 3,600.00 Buy

Interim results Tues 4 Nov

www.britishbulls.com



Signal Update

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 17/10/2014, 14 days ago, when the stock price was 3,194.0000. Since then DCC.L has risen by +9.39%.

Market Outlook

The bulls are in full control. The negative sentiment that led to the last bearish pattern has evaporated. Besides, the signal is suggesting to STAY LONG. It is best to follow the signal and continue to hold this security.


http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=DCC.L

Interim Report

Ø Revenue increased by 1.9% to £5.5 billion. Volumes in DCC Energy increased by 5.3% but its revenue was broadly flat, primarily due to the impact of lower oil prices. Excluding the impact of acquisitions, DCC Energy's volumes were in line with last year despite the milder weather in the current year.



Ø Revenue, excluding DCC Energy, was up 9.2%.



Ø Operating profit increased by 6.4% to £73.2 million.



Ø Operating profit, excluding DCC Energy, increased by 16.9%, driven by strong growth in DCC Technology and DCC Healthcare.



Ø Recent acquisitions are performing well.



Ø The Group increased its acquisition activity, with £148 million committed on acquisitions year to date.



Ø Agreement reached to dispose of the Irish subsidiaries of DCC Food & Beverage (Kelkin, Robert Roberts, Allied Logistics). The aggregate consideration is approximately €75 million (£60 million).



Ø A seasonal increase in working capital, which should largely reverse in the second half, reduced operating cash flow to £17.9 million. Working capital days remained low at 30 September 2014 (2.3 days versus 1.8 days at 30 September 2013).



Ø The interim dividend has been increased by 10.0% to 28.73 pence per share.



Ø The Group now expects that growth in operating profit and adjusted earnings per share will be in the range of 5% - 10% over the prior year (previously approximately 10% - 12%) reflecting the impact of the particularly mild weather in September and October




http://www.moneyam.com/action/news/showArticle?id=4916434

4 Nov Investec N/A Buy
4 Nov JP Morgan... 3,808.00 Overweight
4 Nov Panmure Gordon 4,200.00 Buy

Interim Management Statement
RNS
RNS Number : 6916E
DCC PLC
12 February 2015









12 February 2015





DCC plc



Interim Management Statement



DCC Reiterates Full Year Guidance



DCC plc, the international sales, marketing, distribution and business support services group, is issuing this Interim Management Statement in accordance with the reporting requirements of the Transparency Regulations 2007.



Third Quarter ended 31 December 2014

Group operating profit in the third quarter ended 31 December 2014 was ahead of the prior year. There was good growth in operating profit in each of DCC Technology, DCC Healthcare, DCC Environmental and DCC Food & Beverage while DCC Energy performed in line with the prior year.



In DCC Energy, both volumes and margins were held back by the milder weather conditions across Northern Europe. In the UK, DCC Energy's largest market, temperatures in each of October, November and December were above the ten year average, continuing a trend of milder than normal weather experienced in the first half.



Operating profit in DCC Technology, the Group's second largest division, was ahead of the prior year, in what is the most important trading quarter for the division. Revenue growth was modest reflecting the anticipated lower sales of tablets and mobile phones, although this was offset by a strong performance in PC's and servers, an improved performance in France and the impact of the CapTech acquisition.



DCC Healthcare traded well ahead of the prior year, benefiting from continued strong growth in DCC Health & Beauty Solutions and the benefit of first time contributions from Williams Medical, acquired in May 2014, and Universal Products Manufacturing, acquired in January 2014.



Operating profit in DCC's two smaller divisions, DCC Environmental and DCC Food & Beverage, was ahead of the prior year.



Year to 31 March 2015

The quarter to 31 March is a significant trading quarter for the Group and is heavily influenced by trading in DCC Energy. In January, temperatures in the UK were colder than the prior year and modestly colder than the ten year average and overall trading for the Group was in line with expectations.



The Group's full year guidance continues to be set against the assumption that there will be normal weather conditions for the remainder of the year. On this basis, DCC reiterates its expectation that the year to 31 March 2015 will show growth in operating profit and adjusted earnings per share in the range of 5% - 10%.



Development Activity

The formal purchase agreement to acquire the assets that comprise the Esso Express unmanned retail petrol station network and the Esso Motorway concessions in France has now been signed, following the conclusion of the French Works Council consultation process. The work required to develop the IT and operational infrastructure necessary to complete this transaction is on schedule.



In November 2014, DCC Healthcare acquired Beacon Pharmaceuticals Limited in a transaction based on an enterprise value of up to £10 million. Beacon is a niche pharma business which markets and sells its own licensed and third party pharma products primarily to the hospital sector in the UK.



Total committed acquisition expenditure in the nine months to 31 December 2014 was £156 million. The cash outflow on acquisitions, inclusive of a net movement in deferred and contingent acquisition consideration, was £117 million.



The previously announced disposals of Allied Logistics and a related property have now been completed. In addition, the previously announced disposal of Robert Roberts and Kelkin is expected to complete prior to 31 March 2015. The aggregate consideration from these disposals is expected to be approximately £52 million (€70 million).



DCC remains in a very strong financial position which leaves it well placed to continue the development of its business in existing and new geographies. DCC remains active on the acquisition front.



Final Results

DCC expects to announce its results for the year to 31 March 2015 on Tuesday 19 May 2015.



/////////////////////////////////////////////////////////////////////////////////////////////////


12 Feb Goodbody N/A Buy
12 Feb Davy Research N/A Outperform
12 Feb JP Morgan... 3,808.00 Overweight
12 Feb Panmure Gordon 4,200.00 Buy

DC - nice chart - what's the story pre 2013?

Found some history skinny -


1976 - 90

Founded by Jim Flavin as a venture and development capital company, with clear focus on return on capital employed and operating profit. Generated a compound annual return on investment of 23% over this period.


1990 - 94

Transition to diversified group focused on 5 sectors
– Energy, IT, Healthcare, Environmental and Food.


1994

Listed on the Irish and London Stock Exchange.


2014
Listed under Support Services on the London Stock Exchange.
Constituent of the FTSE All-Share Index and the FTSE 250 Index.
Market cap. of c £3.0 billion.
Employs approximately 10,000 people.
Operating in 13 countries.

The steep climb on your chart skinny - I take to be some sort of change in listing of the shares as the rns is blank.

Thanks DC.

DCC PLC (DCC:LSE) set a new 52-week high during today's trading session when it reached 3,914. Over this period, the share price is up 25.65%.

DCC PLC (DCC:LSE) set a new 52-week high during today's trading session when it reached 4,035. Over this period, the share price is up 26.56%.
/////////////////////////////////////////////////////////////////////////////////////////////////

6 Mar Berenberg 4,780.00 Buy

20 Apr Panmure Gordon 4,550.00 Buy
20 Apr Barclays... 4,480.00 Equal weight

Results

DCC to acquire Butagaz for 464m
StockMarketWire.com
DCC Energy has made a binding offer to acquire Butagaz, a leading liquefied petroleum gas business in France, from Shell for 464m.

Shell has granted DCC exclusivity while it consults with its French Works Councils as required by French law.

The transaction would represent the largest ever acquisition by DCC and a major step forward in the continuing expansion of its LPG business.

The French LPG market is the second largest in Western Europe and approximately twice the size of the market in Britain.

The acquisition of Butagaz would provide DCC Energy with a substantial presence in the French LPG market, an experienced management team and a high quality sales, marketing and operating infrastructure.

DCC says Butagaz has a market share of 25% and the 'Butagaz' brand is the leading LPG brand in France. Butagaz is market leader in the LPG cylinder and small bulk market segments and sells directly or indirectly to over four million customers.

DCC chief executive Tommy Breen said: "The acquisition of Butagaz represents a major step forward in DCC's ambition to build a very significant presence in the global LPG market. As the leading LPG brand in France with a strong heritage and reputation for customer service, Butagaz is an excellent strategic fit for DCC Energy's existing LPG business. "We very much look forward to welcoming the Butagaz management and employees into the DCC Group. DCC and Butagaz share similar ambitions and together we are excited by the opportunity to grow and develop the Butagaz business and brand."

DCC intends to conduct a placing of up to 4,200,000 new ordinary shares, representing up to 5% of the existing issued share capital.

The net proceeds of the placing are proposed to be used to part fund the acquisition, with the balance settled from existing cash resources.





At 8:28am: (LON:DCC) DCC PLC share price was +546p at 4916p

19 May Panmure Gordon 4,550.00 Buy
19 May Goodbody N/A Buy
19 May Davy Research N/A Outperform

3 Reasons Why DCC PLC’s Rally Is Set To Last Into 2020 And Beyond



By Alessandro Pasetti - Tuesday, 19 May, 2015 | More on: DCC


Vertical integration of services across most industries means that DCC‘s (LSE: DCC) rally is likely to last well into 2020 and beyond, in my view. On top of that, a raft of available downstream assets owned by oil majors could be had on the cheap, contributing to a stellar performance for the shareholders of one of the FTSE 250 darlings.

Reaction/Price Target

DCC is up over 10% today on the back of strong annual results, propelled by a wise use of funds. A price target of 7,000p a share to the end of 2017 is conceivable, I’d argue — for an implied 45% pre-tax return, excluding dividends.

If DCC’s flawless strategy persists, a 2017 forward valuation as low as 10x its net earnings could become a distinct possibility. That would imply an astonishing 2012-2017 compound annual growth rate (CAGR) of 20.6% for earnings, which could come along a 12% CAGR for dividends over the period, according to my calculations.

Here are three reasons why upside could be greater than that, though.

1. Growth

A Dublin-based support services firm with a market cap of £3.7bn and a very solid balance sheet (its enterprise value is £3.7bn), DCC is one of the most appealing business services propositions in the marketplace.

It operates five units, all of which are growing fast and present defensive features. With combined revenues of more than £10bn, its energy and technology divisions dwarf the healthcare, food and beverage and environmental units, whose combined sales amount to less than 7% of the group’s total.

While DCC continues to grow organically and by acquiring assets, its stock offers plenty of value at 4,800p, where it currently trades, based on a few factors including steady margins and sound strategy, rising free cash flow and dividends, sustainable leverage metrics and efficient use of capital.

A top-down approach also suggests that GCC is well positioned to grow across several sub-sectors and industries where demand will outpace supply for a few years from now, in my view. The industrial world is a good example.

2. Deals

That said, its shares could offer greater long-term value should DCC entertain a soft break-up at some point — the separation of some of its assets — even under a remote scenario according to which its equity valuation struggles to keep up with its fast pace of growth.

That’s a good option to have if demand for its services subsidies.

The majority of its sales are generated in the UK, which testifies to the huge potential offered by DDC, which is exploiting its strong equity valuation to do deals.




“The acquisition of Butagaz would represent the largest ever acquisition by DCC and a major step forward in the continuing expansion of its LPG business,” DCC said today when the deal was announced, noting that the French LPG market is the second largest in Western Europe, and approximately twice the size of the market in Britain. DCC aims to expand and as it grows it could become more profitable. It’s bulking up its core energy unit (77% of revenues), paying €464m for the acquisition of Butagaz from Shell, which will continue to concentrate its downstream footprint on a smaller number of assets.

“Underlying EBITDA and EBIT multiples of 3.8 and 6.2, respectively” was the implied valuation of Butagaz, which testifies to the opportunity offered to buyers in this market.

3. Valuation

The divided is rising and is projected to yield 2% in 2016 — there’s a lot to like in DCC’s rising free cash flow yield and in its dividend policy, which is clearly sustainable and could surprise in future, base on DCC’s cash flow profile.

The shares trade on net earnings and adjusted operating cash flow multiples of 21x and 12x, respectively, for 2016. Taking into account favourable conditions for support services businesses at this point of the business cycle, as well as considering the way the group is managed, there’s no reason to worry about a stock performance that already reads +65% over the last couple of years.

“We believe there will continue to be opportunities and maybe some of them bigger over the next few years, coming out of the oil majors,” chief executive Tommy Breen said today.

Panmure has lifted target by £8 since yesterday



20 May Investec 5,000.00 Hold
20 May Panmure Gordon 5,300.00 Buy
19 May Panmure Gordon 4,550.00 Buy

21 May JP Morgan... 5,590.00 Overweight

26 May Berenberg 5,850.00 Buy

DCC: Jefferies raises target to 5,900p from 4,500p and keeps at buy.

5 Jun Davy Research 6,500.00 Outperform
5 Jun Jefferies... 5,900.00 Buy

DCC completes French unmanned network acquisition
RNS
RNS Number : 0484R
DCC PLC
24 June 2015









24 June 2015



DCC Energy completes the acquisition of Esso SAF's unmanned and motorway retail petrol station network in France





DCC plc, the international sales, marketing, distribution and business support services group, announces that, following the receipt of relevant clearances and the implementation of an IT and operational infrastructure, it has completed, on schedule, the acquisition of the assets that comprise the Esso Express unmanned retail petrol station network and the Esso Motorway concessions in France.



Details of the acquisition were set out in DCC's Stock Exchange Announcement on 28 August 2014.

Interim Management Statement
RNS
RNS Number : 3127T
DCC PLC
17 July 2015









17 July 2015



DCC plc



Interim Management Statement



DCC Reiterates Guidance of Very Significant Growth



DCC plc, the international sales, marketing, distribution and business support services group, is issuing this Interim Management Statement in advance of the Company's AGM to be held in Dublin at 11.00 am today.



First Quarter ended 30 June 2015
Overall Group operating profit for the first quarter ended 30 June 2015 was in line with budget, with strong growth across DCC Energy, DCC Healthcare and DCC Environmental being somewhat offset by a weaker performance from DCC Technology.



DCC Energy traded ahead of budget and well ahead of the prior year, benefitting in particular from a strong performance from its LPG activities. A significant milestone was achieved during the first quarter when, as announced on 24 June 2015, DCC Energy completed the acquisition of the assets that comprise the Esso Express unmanned retail petrol station network and the Esso Motorway concessions in France. The acquisition, which completed to schedule, followed the design, build and implementation of an IT and operational infrastructure to enable the carve-out of the Esso assets from the Exxon global platform and, importantly, provides DCC Energy with a scalable platform for further growth, particularly in the unmanned retail sector. The business has traded in line with expectations in the short period since completion.



Trading in DCC Technology was behind budget and the prior year. As anticipated, the business in the UK continues to be impacted by the weak tablet market and by reduced sales of mobile computing and smartphone products of one large supplier. The UK business was also impacted by weaker demand and increased competition across a number of product sectors.



Operating profit in DCC Healthcare grew strongly and in line with expectations, benefitting from a strong performance in DCC Vital.



DCC Environmental traded in line with budget and well ahead of last year.



Year to 31 March 2016

DCC's profits are significantly weighted towards the second half of its financial year. At what is still a very early stage in the financial year, the Group continues to anticipate that operating profit and adjusted earnings per share, on a continuing basis, will be very significantly ahead of the prior year.



This guidance for the year to 31 March 2016 is based on the important assumptions that the acquisition of Butagaz, announced on 19 May 2015, will complete in the final calendar quarter of 2015 and that there will be normal winter weather conditions.



DCC remains ambitious to continue the growth and development of its business. The recent successful equity placing further enhances DCC's strong equity base and together with a strong and liquid balance sheet leaves it well placed to continue the development of its business in existing and new geographies.



Date for Interim Results

DCC expects to announce its interim results for the six months to 30 September 2015 on Tuesday 10 November 2015.

Dividend Thurs 23 July 55.81p

Shares - We rate DCC as one of the prime picks on the UK market. Irish broker Davy notes that DCC has delivered the highest total shareholder return in the FTSE 350 market over the past two decades and has been in the top 5% over the last seven.

Acquisition of Butagaz - Regulatory clearance
RNS
RNS Number : 8026X
DCC PLC
02 September 2015









2 September 2015





DCC plc



DCC Energy obtains regulatory clearance for the acquisition of Butagaz

DCC plc, the international sales, marketing, distribution and business support services group, announces that DCC Energy has now obtained all the relevant regulatory clearances necessary to complete the acquisition of Butagaz S.A.S. ("Butagaz") and that the necessary Works Councils' consultations have been completed. The agreement to acquire Butagaz is now unconditional in all respects and is expected to complete in November 2015 following the separation of the Butagaz IT infrastructure from Shell's global infrastructure.

Details of the acquisition were set out in DCC's Stock Exchange Announcement on 19 May 2015.





About DCC plc

DCC plc is an international sales, marketing, distribution and business support services group headquartered in Dublin with operations in Britain, Continental Europe and Ireland. DCC has four divisions - DCC Energy, DCC Technology, DCC Healthcare and DCC Environmental. In its financial year ended 31 March 2015, DCC generated revenue of £10.6 billion and operating profit of £222 million and currently employs approximately 10,200 people in 14 countries. DCC's shares are listed on the London Stock Exchange and are included in the FTSE All-Share Index and the FTSE 250 Index under Support Services.

MARKET-REPORT-Lively-international-support-service-group-DCC-strives-promotion.

21 Oct Jefferies... 5,900.00 Buy

DCC completes the acquisition of Butagaz
RNS
RNS Number : 1263E
DCC PLC
02 November 2015







2 November 2015



DCC completes the acquisition of Butagaz





DCC plc, the international sales, marketing, distribution and business support services group, announces that DCC Energy, its largest division, has completed the acquisition of Butagaz S.A.S. The acquisition became unconditional in all respects on 1 September 2015 following the receipt of competition clearance and has been consolidated in the results of the Group from that date.



Details of the acquisition were set out in DCC's Stock Exchange Announcements of 19 May 2015 and 2 September 2015

Shares - DCC gains ahead of update


Dublin-headquartered distribution specialist DCC (DCC) reports half year results next week (10 Nov) with analysts looking for a steer on full year profit currently pitched at £244 million pre-tax.

Shares in DCC have gained 53% year-to-date including dividends after strong operating performance and investor enthusiasm for its €464 million (£338 million) acquisition of French liquefied petroleum gas distributor Butagaz.

Downstream activities in the oil and gas industry, notably in distribution where DCC specialises, have been one of the few bright spots for the energy industry this year because of falling input prices.

As well as its strength in fuel, DCC has niche business lines distributing health and consumer electronics which together represent around one-third of profit.

‘In its seasonally quiet first half, DCC has delivered strong profit growth in energy, healthcare and environmental, partially offset by softness in UK tablet and mobile phone sales,’ writes analyst Justin Jordan at investment bank Jefferies.

‘DCC remains on track for significant 2016 profit growth.’

Interim report, for the period ending 30 Sept 2015

26.1% growth in Group operating profit, driven in particular by the performances of DCC Energy and DCC Healthcare.



· Adjusted earnings per share on a continuing basis up 18.5% to 70.3 pence.



· Interim dividend increased by 15% to 33.04 pence per share.



· Strong cash flow performance with investment in net working capital reducing by 4.6 days.



· Net cash position at 30 September 2015 of £153 million (pro-forma net debt of £170 million adjusting for the consideration for Butagaz).



· Completion of acquisitions of Butagaz (ahead of schedule) and Esso Retail France, with both trading well.



· Further bolt-on acquisitions announced today in DCC Healthcare and DCC Technology.



· Assuming normal winter weather conditions in the balance of the financial year, the Group expects that both operating profit and adjusted earnings per share for the year ending 31 March 2016 will be very significantly ahead of the prior year and modestly ahead of current market consensus expectations.

10 Nov Davy Research 6,800.00 Outperform
10 Nov Panmure Gordon 5,300.00 Buy
10 Nov Peel Hunt 5,707.00 Add

Morrisons-staring-at-FTSE-100-relegation-once-again.


From the above -

Earlier this month, shares in DCC touched a record high after the group reported a 26.1pc jump in its half-year operating profit buoyed by robust performances in its energy and healthcare businesses.

Justin Jordan, of Jefferies, said DCC’s potential entry into the FTSE 100 “broadens its pool of potential investors and boosts profile and credibility in discussions on possible M&A opportunities”.

However, the shake-up is also expected to see security group G4S and British engineer Meggitt face relegation from the FTSE 100.

An official decision will be made on Wednesday and all changes will take effect from the start of trading on Monday, December 21

Pushing towards £60

DCC PLC (DCC:LSE) set a new 52-week high during today's trading session when it reached 6,030. Over this period, the share price is up 71.24%

Company News

Worldpay Group, Provident Financial and DCC to join FTSE 100

Wed, 02 December 2015





Meggitt Quote more



Price: 375.00

Chg: -12.00

Chg %: -3.10%

Date: 17:00



(ShareCast News) - On Wednesday evening FTSE announced the results of its December review, with Worldpay Group, Provident Financial and DCC replacing G4S, Morrisons and Meggitt in the top flight index as of 18 December.
The three constituents which were set to exit the FTSE 100 would fatten the ranks of the second-tier index, alongside Hastings Group Holdings, Assura, Ibstock and Renewables Infrastructure Group.

They were to replace in the FTSE 250 Foxtons Group, Hunting, Kaz Minerals, Petra Diamonds and Premier Oil, which will be demoted to the FTSE SmallCap index, joining new entrants Hostelworld Group and HarbourVest Global Private Equity.

Kenmare Resources, on the other hand, was set to leave the FTSE SmallCap index.

Dcc: Exane BNP Paribas promotes to outperform with 6200p target.
In a note about the support service sector on Friday, the investment bank said DCC is the sector's main beneficiary from falling oil prices.

Interim Management Statement
RNS
RNS Number : 7132O
DCC PLC
11 February 2016





11 February 2016



DCC plc



Interim Management Statement



DCC Reports Very Strong Growth in Third Quarter Operating Profit



DCC plc, the international sales, marketing, distribution and business support services group, is issuing this Interim Management Statement for the third quarter ended 31 December 2015.



Third quarter ended 31 December 2015

Group operating profit in the third quarter ended 31 December 2015 was very significantly ahead of the prior year. There was excellent growth in operating profit in each of DCC Energy, DCC Healthcare and DCC Environmental with more difficult trading conditions in DCC Technology.



Operating profit in DCC Energy was very significantly ahead of the prior year, despite the milder winter weather conditions. The two large acquisitions completed earlier in the financial year, Esso Retail France and Butagaz, performed in line with, or modestly ahead of, expectations. Whilst overall heating-related volumes were held back by the mild temperatures, a good margin and cost performance was achieved.



Operating profit in DCC Technology was behind the prior year, as the business continued to be impacted by reduced demand for tablet, smartphone and gaming products.



DCC Healthcare traded well ahead of the prior year, benefiting from a very strong performance from DCC Health & Beauty Solutions and a continued improvement in the sales mix and good cost control in DCC Vital.



Operating profit in DCC Environmental was strongly ahead of the prior year.



Year to 31 March 2016

DCC continues to expect that both operating profit and adjusted earnings per share will be very significantly ahead of the prior year and in line with current market consensus.



Development Activity

The year to 31 March 2016 has been a milestone year for development in DCC with the completion earlier in the financial year of DCC's two largest acquisitions to date, Butagaz and Esso Retail France. The cash outflow on acquisitions completed in the nine months to 31 December 2015 (which includes the previously committed acquisitions of Butagaz and Esso Retail France), inclusive of a net movement in deferred and contingent acquisition consideration, was £385 million. Total committed acquisition expenditure in the nine months to 31 December 2015 was £39 million.



DCC remains ambitious to continue the growth and development of its business in existing and new geographies and retains a strong, well-funded and liquid balance sheet.



Final Results

DCC expects to announce its results for the year to 31 March 2016 on 17 May 2016.

11 Feb Goodbody N/A Hold
11 Feb Peel Hunt 5,420.00 Add
11 Feb Davy Research N/A Outperform

12 Feb JP Morgan... 6,124.00 Overweight

Acquisition of Danish Assets from Couche-Tard

RNS


RNS Number : 0371T

DCC PLC

23 March 2016








STOCK EXCHANGE ANNOUNCEMENT

23 March 2016



DCC Energy agrees to acquire Danish oil distribution and retail assets from Alimentation Couche-Tard





DCC plc, the international sales, marketing, distribution and business support services group, has reached agreement with Alimentation Couche-Tard Inc. ("Couche-Tard") to acquire a commercial, aviation and retail fuels business in Denmark, substantially formerly owned by Shell. The business comprises the remedy package resulting from the purchase by Couche-Tard of Shell's downstream marketing operations in Denmark, agreed in March 2015. The completion of the acquisition of the remedy package by DCC is conditional, inter alia, on EC competition clearance. The transaction is expected to complete in the second half of calendar 2016, after the relevant clearances have been received.



The acquisition will comprise Shell's commercial and aviation distribution business in Denmark and a 139 site retail petrol station network (comprising 95 manned and 44 unmanned sites) and contracts to supply 66 dealers. DCC will also enter into a long term brand partnership with Shell to operate the network under the Shell brand. The transaction will require a total investment by DCC of approximately DKK300 million (£30 million). The business will be merged with DCC's existing oil distribution business in Denmark and will leverage DCC's newly developed retail operating platform.



The acquired business will have total incremental volumes of approximately 0.9 billion litres and is expected to generate an initial return on invested capital commensurate with DCC's Energy's existing returns.



Tommy Breen, Chief Executive of DCC plc, said today:



"This acquisition will significantly strengthen our business in Denmark, as well as further develop our presence in the retail market for transport fuels, following our previous acquisitions in the European retail petrol station market in Sweden and France."

29 Mar Jefferies... 6,100.00 Buy

27 Apr Morgan Stanley 7,800.00 Overweight

Results


· 35.5% growth in Group operating profit to £300.5 million, driven in particular by the performance of DCC Energy.



· Adjusted earnings per share up 27.2% to 257.1 pence.



· Proposed 15.0% increase in the final dividend.



· Continued very strong cash flow performance and a return on capital employed of 21.0%.



· Completion during the year of the Group's two largest ever acquisitions, Butagaz and Esso Retail France, with both trading well.



· Further acquisition activity in each of DCC Energy, DCC Healthcare and DCC Technology.



· The Group expects that the year ending 31 March 2017 will be another year of profit growth and development.

DCC PLC (DCC:LSE) set a new 52-week high during today's trading session when it reached 6,620. Over this period, the share price is up 29.30%.

Broker Forecast - Goldman Sachs issues a broker note on DCC PLC

BFN

Goldman Sachs today initiates coverage of DCC PLC (LON:DCC) with a neutral investment rating and price target of 6500p.

Story provided by StockMarketWire.com

Interim Management Statement

RNS


RNS Number : 2637E

DCC PLC

15 July 2016








15 July 2016



DCC plc



Interim Management Statement



DCC Reports Strong Growth in First Quarter Operating Profit



DCC plc, the international sales, marketing, distribution and business support services group, is issuing this Interim Management Statement in advance of the Company's AGM to be held in Dublin at 11.00 am today.



First Quarter ended 30 June 2016

Overall Group operating profit for the first quarter ended 30 June 2016 was significantly ahead of the prior year and modestly ahead of expectations, driven by the performance of DCC Energy which benefitted from acquisitions completed during the prior year and also from strong organic operating profit growth.



Trading in each of DCC Healthcare, DCC Technology and DCC Environmental was ahead of the prior year and in line with expectations. DCC Technology benefitted from cost saving initiatives implemented in the prior year and the first time contribution from the acquisition of CUC.



Year to 31 March 2017

DCC's profits are significantly weighted towards the second half of its financial year. At what is still a very early stage in the financial year, the Group reiterates its belief that the year ending 31 March 2017 will be another year of profit growth and development.



The UK's decision in the recent referendum to leave the EU is not expected to have any material direct impact on DCC's business as the Group has relatively little cross-border trade. Presently almost 50% of the Group's operating profits are generated outside of the UK and so the Group's reported operating profit would benefit modestly from favourable translation should sterling remain at current values, or depreciate further.



As previously announced on 23 March 2016, DCC Energy has agreed to acquire Dansk Fuels, a retail, aviation and commercial fuels business in Denmark, formerly owned by Shell. The proposed acquisition is proceeding in line with expectations and recently received clearance from the EU Commission. The acquisition is expected to complete in the second half of calendar 2016.



DCC remains ambitious to continue the growth and development of its business. DCC's strong equity base, together with a strong and liquid balance sheet, leaves it well placed to continue the growth of its business in existing and new geographies.



Date for Interim Results

DCC expects to announce its interim results for the six months to 30 September 2016 on Monday 14 November 2016.

14:02 17/08/2016
DCC upgraded by Barclays

Research analysts at Barclays Capital have upgraded their rating on DCC (LON:DCC) to 'overweight' from 'equal weight' in its note on UK Support Services. "With oil majors divesting assets, financing already in place, and a track record for successful integrations, we see DCC having the biggest...

5 Sep JP Morgan... 7,843.00 Overweight

DCC Technology to acquire Hammer
RNS
RNS Number : 5474M
DCC PLC
14 October 2016
 
 
 
 
 
14 October 2016
 
DCC Technology to acquire Hammer, a specialist distributor of server and storage solutions
 
DCC plc, the international sales, marketing, distribution and business support services group, announces that DCC Technology, which trades as Exertis, has agreed to acquire Hammer Consolidated Holdings Limited ("Hammer"), a specialist distributor of server and storage solutions to resellers in the UK and Continental Europe.  The acquisition is conditional, inter alia, on competition clearance from the European Commission and is expected to complete by the end of December 2016.
 
Based in Basingstoke, Hampshire and employing 165 people, Hammer distributes server and storage products for a broad range of leading suppliers including Dell, Intel, NetApp, Seagate and Western Digital. In addition, it provides product design and build solutions tailored to the requirements of customers in specific industries. Hammer sells to value added resellers, cloud service providers and system integrators from sales offices in the UK, France, Germany, Sweden, Holland and Belgium. Hammer's business is complementary to Exertis' existing server and storage business, significantly strengthening Exertis' supplier portfolio and adding almost 1,000 reseller customers.
 
In its financial year ended 31 January 2016, Hammer earned an operating profit of £6.3 million on revenue of £155.0 million. DCC has agreed to acquire 100% of the issued share capital of Hammer based on an initial enterprise value of £38.3 million. The consideration will be paid entirely in cash and is structured as an initial payment at completion, followed by earn out payments over three years based on Hammer's future trading results.
 
 
Tommy Breen, Chief Executive of DCC plc, said today:
 
"The acquisition of Hammer will significantly strengthen the product and service capability offered by Exertis to its reseller customers. In addition, Hammer's expertise will better enable us to take advantage of positive industry trends, including growth in cloud data centers and demand for big data analytics."

11:00 19/10/2016
Broker Forecast - Stifel issues a broker note on DCC PLC
Stifel today initiates coverage of DCC PLC (LON:DCC) with a buy investment rating and price target of 8530p. Story provided by StockMarketWire.com

Results for 6 months ending 30th Sept 16

·     Very strong first half performance with Group operating profit increasing by 33.3% (up 26.5% on a constant currency basis) to £117.8 million, with all divisions recording growth on the prior year.
 
·     Adjusted earnings per share up 31.1% (24.7% ahead on a constant currency basis) to 92.1 pence.
 
·     Interim dividend increased by 12.5% to 37.17 pence per share.
 
·     Continued very strong cash flow performance.
 
·    The Group continues to be very active from a development perspective and, including those acquisitions announced today, has committed £181 million in acquisition spend in the period.
 
·     As separately announced today, DCC Energy has agreed to acquire Gaz Européen, a leading French natural gas retail and marketing business, for an initial enterprise value of €110 million (£96 million). In addition, DCC Healthcare has agreed to acquire Medisource, a pharmaceutical procurement, sales and marketing business in Ireland for an initial enterprise value of €32 million (£27 million). The acquisition of Dansk Fuels in Denmark by DCC Energy, announced on 23 March 2016, was completed ahead of schedule.
 
·     The Group expects that both operating profit and adjusted earnings per share for the year ending 31 March 2017 will be significantly ahead of the prior year and ahead of current market consensus expectations.
 

14 Nov
Canaccord...
7,800.00
Buy

14 Nov
Goodbody
N/A
Hold

14 Nov
Peel Hunt
6,936.00
Hold

15 Nov
JP Morgan...
7,843.00
Overweight

DCC completes the acquisition of Hammer
RNS
RNS Number : 3961S
DCC PLC
20 December 2016
 
                       
                                                                        20 December 2016
 
 
DCC completes the acquisition of Hammer 
 
 
DCC plc, the international sales, marketing, distribution and business support services group, announces that following the receipt of competition clearance from the European Commission, DCC Technology has completed the acquisition of Hammer Consolidated Holdings Limited.
 
Details of the acquisition were set out in DCC's Stock Exchange Announcement on 14 October 2016.
 
 
About DCC plc
DCC plc is an international sales, marketing, distribution and business support services group headquartered in Dublin with operations in Britain, Continental Europe and Ireland. DCC has four divisions - DCC Energy, DCC Healthcare, DCC Technology and DCC Environmental. In its last financial year ended 31 March 2016, DCC generated revenue of £10.6 billion and operating profit of £300 million and currently employs approximately 10,500 people in 15 countries. DCC's shares are listed on the London Stock Exchange and are included in the FTSE All-Share Index and the FTSE 100 Index

One of Shares top 10 tips for 2017.

DCC completes the acquisition of Medisource

RNS


RNS Number : 1420V

DCC PLC

26 January 2017










26 January 2017



DCC completes the acquisition of Medisource





DCC plc, the international sales, marketing, distribution and business support services group, announces that, following the receipt of competition clearance from the Competition and Consumer Protection Commission, DCC Healthcare has completed the acquisition of Medisource Ireland Limited.



Details of the acquisition were set out in DCC's Interim Results Announcement of 14 November 2016.





About DCC plc

DCC plc is an international sales, marketing, distribution and business support services group headquartered in Dublin with operations in Britain, Continental Europe and Ireland. DCC has four divisions - DCC Energy, DCC Healthcare, DCC Technology and DCC Environmental. In its last financial year ended 31 March 2016, DCC generated revenue of £10.6 billion and operating profit of £300 million and currently employs approximately 10,500 people in 15 countries. DCC's shares are listed on the London Stock Exchange and are included in the FTSE All-Share Index and the FTSE 100 Index

Broker Forecast - Goldman Sachs issues a broker note on DCC PLC

BFN

Goldman Sachs today upgrades its investment rating on DCC PLC (LON:DCC) to buy (from neutral) and raised its price target to 7400p (from 7000p).

Story provided by StockMarketWire.com



30 Jan Exane BNP... 6,350.00 Neutral

Interim Management Statement

RNS


RNS Number : 1641W

DCC PLC

07 February 2017








7 February 2017



DCC plc



Interim Management Statement



Strong Growth in Third Quarter Operating Profit and Acquisition of Esso's Retail Network in Norway



DCC plc, the international sales, marketing and business support services group, is issuing this Interim Management Statement for the third quarter ended 31 December 2016.



Third quarter ended 31 December 2016

Group operating profit for the third quarter ended 31 December 2016 was strongly ahead of the prior year and in line with expectations.



DCC Energy recorded strong growth in operating profit, benefitting from very strong organic volume growth in LPG and good organic volume growth in both Retail & Fuelcard and Oil. Heating-related volumes were in line with expectations, with the milder weather conditions in the UK offset by colder conditions elsewhere.



DCC Healthcare traded in line with expectations and the prior year, benefiting from a strong organic performance from DCC Health & Beauty Solutions, although DCC Vital was, as anticipated, impacted somewhat by the trading headwind of the weakness in sterling, particularly in pharma products.



Operating profit in DCC Technology was strongly ahead of the prior year, benefitting from the contribution from the CUC acquisition completed during the prior year and also from a strong performance from the UK and Irish business which saw good organic growth in the quarter.



DCC Environmental again delivered very strong year on year organic growth, in both Britain and Ireland.



Year to 31 March 2017

DCC continues to expect that both operating profit and adjusted earnings per share will be significantly ahead of the prior year and in line with current market consensus.



Development Activity

The year to date has been another active development period for DCC. Including the acquisition of Esso Retail Norway1, announced separately this morning, the Group has committed to acquisition expenditure of c. £430 million.



Today's announcement of DCC Energy's acquisition of Esso Retail Norway is another material step for DCC in building its retail petrol station business in Europe. The national network sells c. 600 million litres of fuel annually and is the third largest in Norway with approximately 20%2 of retail volumes. It comprises 142 company-operated sites (127 retail service stations and 15 unmanned stations) and has contracts to supply 108 Esso-branded dealer owned stations. The total consideration will be NOK 2.43 billion (c. £235 million), plus the value of stock in tank at the date of acquisition, all payable in cash on completion. The acquired business, which is substantially asset backed, is expected to generate a return on invested capital employed of approximately 15% in the first full year of ownership.



The transaction is subject to customary regulatory approvals and closing conditions, including competition clearance from the Norwegian Competition Authority, and is expected to complete in the final calendar quarter of 2017.



Since the announcement of DCC's half-year results on 14 November 2016, the Group has completed the previously announced acquisitions of Hammer, Medisource and, more recently Gaz Europeén, which completed on 31 January 2017.



DCC remains ambitious to continue the growth and development of its business in existing and new geographies and retains a strong, well-funded and liquid balance sheet.



Final Results

DCC expects to announce its results for the year to 31 March 2017 on 16 May 2017.

7 Feb Peel Hunt 6,575.00 Add

Acquisition of Shell LPG Hong Kong & Macau
RNS
RNS Number : 6246B
DCC PLC
05 April 2017
 
 
5 April 2017
 
DCC Energy agrees to acquire Shell's LPG business in Hong Kong and Macau
 
DCC plc, the leading international sales, marketing and business support services group, announces that DCC Energy has reached agreement with Shell Gas (LPG) Holdings BV to acquire its liquefied petroleum gas ("LPG") business in Hong Kong and Macau ("Shell HK&M") based on an enterprise value of HK$1.165 billion (c. £120 million).  The business is one of the leading LPG businesses in Hong Kong and is the market leader in Macau.  The business is required to be separated from the broader Shell Hong Kong operations and the transaction requires certain regulatory consents and operating licence approvals. The acquisition is expected to complete before the end of DCC's financial year ending 31 March 2018.
 
Shell's LPG business in Hong Kong and Macau
Shell HK&M is one of the leading LPG sales and marketing businesses in Hong Kong and Macau, where it has been selling LPG for almost sixty years.  The business provides LPG in bulk, cylinder and autogas formats to domestic, commercial and industrial customers.
 
In Hong Kong it is the market leader in supplying piped LPG to the very large apartment complexes common in the territory. Shell HK&M supplies the complexes through its infrastructure of bulk tanks and piping to service the energy needs of over 100,000 households. Shell HK&M is the number three player in the cylinder market and also supplies autogas to Shell's retail network. The business is the market leader in the smaller Macau market. Shell HK&M is headquartered in Kowloon and operates a terminal and filling plant on Tsing Yi Island.
 
In the year ended 31 December 2016, the business supplied approximately 74,000 tonnes of LPG and under DCC's ownership is expected to deliver an annual operating profit of c. HK$145 million (c. £15 million). 
 
Following the completion of the acquisition, the business will continue to operate under the Shell brand in both Hong Kong and Macau, based on a long term brand licence agreement.
 
Strategic rationale
DCC Energy's strategy is to be a global leader in the sales and marketing of fuels and related products and the provision of services to end consumers. The acquisition of the Shell LPG business in Hong Kong and Macau is in line with this strategy and DCC Energy's ambition to, over time, build a significant presence in the global LPG market.  Demand for LPG is expected to grow strongly in developing markets throughout the world, given LPG's relative strength as a portable, clean and efficient energy source.  The acquisition of Shell HK&M will give DCC a strong presence in a mature and stable market in Asia and, importantly, provides a development platform in the region to build a larger LPG business in the future.
 
 
 
Tommy Breen, Chief Executive of DCC plc, said today:
 
"The acquisition of Shell's LPG business in Hong Kong and Macau is an exciting development for DCC and is consistent with our ambition to build a substantial presence in the global LPG market.  The acquisition represents a further strengthening of our relationship with Shell and gives us a strong market position in Hong Kong and Macau.  It is also DCC's first material step in building its business outside of Europe and gives DCC a platform for development in the growing LPG market in Asia."

Morgan Stanley downgrades Aggreko, prefers DDD and AA
Wed, 03 May 2017
(ShareCast News) - Casting its critical eye over the larger UK business services groups, Morgan Stanley said Aggreko, Berendsen and Capita, instead recommending investors own DCC, AA, Experian and Rentokil.
Morgan Stanley, which downgraded Aggreko alongside Berendsen to 'underweight' from 'equal weight', said this pair had begun to offer fewer of the attributes analysts that would suggest they will outperform over the long term: "sustainable, high returns on capital, strong cash generation and attractive growth prospects, set within a framework that is aligned with shareholder interests".

Aggreko was viewed as a "challenged business with a strong management team".

While the temporary power group's current year is felt likely to see a recovery in its local rental businesses, "its core issue of not winning enough utility contracts to offset churn, while pricing remains under pressure, should lead the equity story from here", alongside a stuttering new fleet strategy.

Berendsen was downgraded last week after another profit warning that was attributed by management to capex under-investment in the UK business, whereas Morgan Stanley's analysts see growth as unlikely to improve as competitive intensity increases in the UK market with Europe following a similar trend.

Having re-rated by 32%, G4S was given a new target price of 330p, as analysts see growth well supported this year with further restructuring benefits expected.

As for DCC, as the most preferred stock in the sector, the bullish view is that the market "is underestimating the growth potential from M&A".

AA, second most preferred, is admired for its stable cash flow, high margin, strong cash conversion and improving B2C membership.

09:50 09/05/2017
Broker Forecast - Jefferies International issues a broker note on DCC PLC
Jefferies International today reaffirms its buy investment rating on DCC PLC (LON:DCC) and raised its price target to 8500p (from 7500p). Story provided by StockMarketWire.com

Results for the year ending March 2017

·   All divisions of DCC recorded strong profit growth, with Group operating profit on a continuing basis  increasing by 20.9% (12.8% on a constant currency basis) to £345.0 million.
 
·    Adjusted earnings per share on a continuing basis up 18.1% (10.3% on a constant currency basis) to 286.6 pence.
 
·    Proposed 16.3% increase in the final dividend, which, together with the interim dividend increase of 12.5%, will see the total dividend for the year increase by 15.0%, the 23rd consecutive year of dividend growth since DCC listed in 1994.
 
·   Excellent cash flow performance, with free cash flow conversion of 114% and a return on total capital  employed of 20.3%.
 
·    Very active period of corporate development, with over £550 million committed to acquisitions, including the agreed acquisition of Esso's retail network in Norway, the agreed acquisition of Shell's LPG business in Hong Kong & Macau, DCC's first material step beyond Europe, and further acquisition activity across DCC Energy, DCC Healthcare and DCC Technology.
 
·     The agreed disposal of DCC's environmental division for an enterprise value of £219 million brings increased  strategic focus to the Group.
 
·   The Group expects that the year ending 31 March 2018 will be another year of profit growth and  development

17 May
JP Morgan...
8,160.00
Overweight
17 May
JP Morgan...
8,160.00
Overweight
16 May
Peel Hunt
7,247.00
Add

DCC PLC (DCC:LSE) set a new 52-week high during today's trading session when it reached 7,590.00. Over this period, the share price is up 18.20%.

DCC LPG makes first acquisition in US LPG market
RNS
RNS Number : 7555V
DCC PLC
07 November 2017
 
 
 
7 November 2017
 
DCC LPG makes first acquisition in large US LPG market
 
DCC plc, the leading international sales, marketing and support services group, announces that DCC LPG has reached agreement with NGL Energy Partners LP ("NGL") to acquire its Retail West LPG division, Hicksgas LLC ("Retail West" or "the business"), based on an enterprise value of US$200 million (£152 million). 
 
The acquisition represents DCC LPG's entry into the US market and is a further significant step in DCC's strategy to build a global LPG business over time.  The US is one of the world's largest LPG markets and is an attractive and growing market. It is also highly fragmented, with over 4,000 LPG distribution businesses operating in the market. The acquisition of Retail West will provide DCC with a substantial, high-quality presence in the US with leading market positions in a number of states. The business has an excellent customer base, a strong and well-invested operational infrastructure and an experienced management team.
 
The transaction is expected to complete on 31 March 2018, following receipt of customary regulatory consents and separation from NGL.
 
The Retail West business
Headquartered in Illinois, Retail West has been in business for over 70 years and currently employs 390 people. It sells approximately 130,000 tonnes1 of LPG annually from 43 customer service locations and 58 satellite facilities.  The business trades under three prominent regional brands, Hicksgas, Pacer Propane and Propane Central, and a number of smaller, local brands.  Retail West has leading market positions in Illinois, Indiana and Kansas and also operates in seven other states across the Mid-West and North-West regions.
 
The business has a long-established and loyal base of 65,000 customers. Approximately two thirds of annual volume is sold to residential customers, predominantly for heating purposes, with the balance sold to commercial and agricultural customers in both small and large bulk format.
 
Retail West has a well-invested asset base of approximately 100 bulk storage facilities and a company-owned distribution fleet of over 150 vehicles. Retail West also owns the majority of tanks on customer premises. 
 
The business has an experienced and long-serving management team who have a strong track record of delivering both organic and acquisition growth.  It has operated as a standalone division within NGL and will continue to operate and develop under the leadership of its existing management team, post completion of the acquisition.
 
Retail West is expected to initially deliver an annual EBITDA of approximately $281 million (£21 million) and EBITA of $201 million (£15 million). The acquisition will be earnings accretive from completion and the after tax cash payback will be approximately 10 years. The business is very well placed to continue its track record of profitable organic growth and also provides a base for synergistic acquisition activity, both of which would further enhance returns.  
 
Strategic rationale
DCC LPG's strategy is to be a global leader in the sales and marketing of LPG, with a developing business in the retailing of natural gas and electricity. The acquisition of Retail West is in line with this strategy and will give DCC a material footprint in the very large, fragmented and growing US LPG market. It marks DCC LPG's entry into the US market and provides a substantial base for further development in the region.
 
Donal Murphy, Chief Executive of DCC plc, said today:
 
"The acquisition of Retail West in the US is an exciting development for DCC and is consistent with our ambition to build a substantial presence in the global LPG market.  Our LPG business has grown significantly in recent years and Retail West will give DCC a material platform for development in the large, fragmented and growing LPG market in the US.  We very much look forward to welcoming the Retail West management and employees into the DCC Group and working together to grow and develop Retail West into the future

7 Nov
Peel Hunt
7,247.00
Add

Six months results ending 30 Sept 2017

·    Strong first half performance with Group adjusted operating profit on continuing activities increasing by 14.4% (up 9.7% on a constant currency basis) to £122.5 million, with all divisions recording growth on the prior year.
 
·     Adjusted earnings per share on continuing activities up 16.1% (11.5% ahead on a constant currency basis) to 95.5 pence.
 
·     Interim dividend increased by 10.0% to 40.89 pence per share.
 
·    The Group continues to be very active from a development perspective. Recently, DCC Retail & Oil completed the acquisition of Esso Retail Norway and DCC Technology completed the acquisition of MTR. DCC LPG remains on schedule to complete the acquisition of Shell Hong Kong & Macau before the end of the financial year.
 
·    In addition, on 7 November 2017, DCC LPG announced its agreement to acquire Retail West from NGL Energy Partners, for an enterprise value of $200 million (£152 million). This will be DCC LPG's first step into the very large US LPG market and is DCC's first substantial acquisition in North America.
 
·    Reflecting the announced acquisition activity to date, the Group's cash spend on acquisitions in the current financial year will be approximately £550 million.
 
·    The Group reiterates its belief that the year ending 31 March 2018 will be another year of profit growth and development.

08:00 20/11/2017
Broker Forecast - Berenberg issues a broker note on DCC PLC
Berenberg today reaffirms its buy investment rating on DCC PLC (LON:DCC) and raised its price target to 8700p (from 8500p). Story provided by StockMarketWire.com

DCC completes acquisition of Shell LPG HK & Macau
RNS
RNS Number : 7731A
DCC PLC
03 January 2018



3 January 2018

DCC LPG completes acquisition of Shell's LPG business in Hong Kong and Macau

DCC plc, the leading international sales, marketing and support services group, announces that DCC LPG has completed the acquisition of Shell's LPG business in Hong Kong and Macau.

Details of the acquisition were set out in DCC's Stock Exchange Announcement on 5 April 2017.

08:50 23/01/2018
Broker Forecast - Peel Hunt issues a broker note on DCC PLC
Peel Hunt today reaffirms its add investment rating on DCC PLC (LON:DCC) and raised its price target to 8149p (from 7247p). Story provided by StockMarketWire.com

Results

· Strong performance for the year with all divisions recording good profit growth and Group adjusted operating profit on continuing operations increasing by 11.1% (8.6% ahead on a constant currency basis) to £383.4 million.

· Adjusted earnings per share on continuing activities up 10.8% (8.3% ahead on a constant currency basis) to 317.5 pence.

· Proposed 10.0% increase in the final dividend will see the total dividend for the year increase by 10.0%, the 24th consecutive year of dividend growth since DCC listed in 1994.

· Good cash flow performance with free cash flow conversion of approximately 85% and a return on capital employed of 17.5%.

· Record year of corporate development spend with approximately £670 million of acquisition capital deployed.

· Acquisitions completed across all divisions, including the acquisitions of Retail West and Elite One Source, DCC's first entry into the large US markets for LPG and for Health & Beauty Solutions.

· The Group expects that the year ending 31 March 2019 will be another year of profit growth and development.

16/05/2018
Broker Forecast - JP Morgan Cazenove issues a broker note on DCC PLC
JP Morgan Cazenove today reaffirms its overweight investment rating on DCC PLC (LON:DCC) and raised its price target to 8380p (from 8160p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

11:10 21/05/2018
Broker Forecast - Stifel issues a broker note on DCC PLC
Stifel today reaffirms its buy investment rating on DCC PLC (LON:DCC) and raised its price target to 9230p (from 8530p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

Interim Management Statement
RNS
RNS Number : 5588U
DCC PLC
13 July 2018




13 July 2018

DCC plc

Interim Management Statement

Strong Growth in First Quarter Operating Profit and Guidance for the Year Reiterated

DCC plc, the leading international sales, marketing and support services group, is issuing this Interim Management Statement in advance of the Company's AGM to be held in Dublin at 11.00 am today.

First quarter ended 30 June 2018
Group operating profit for the first quarter ended 30 June 2018 was in line with expectations and, as anticipated, well ahead of the prior year, driven by acquisitions completed in the prior year.

Year ending 31 March 2019
DCC's profits are significantly weighted towards the second half of its financial year. At what is still a very early stage in the financial year, the Group reiterates its belief that the year ending 31 March 2019 will be another year of profit growth and development.

Development activity
DCC has today separately announced that DCC Technology has acquired Stampede in the US and Kondor in the UK.

Stampede is a specialist distributor of professional audio-visual products and solutions to system integrators, value-added resellers, retailers and etailers in the US, Canada and the UK. Stampede recorded revenue of $280 million in the year ended 31 December 2017 and employs approximately 210 people. The acquisition of Stampede represents DCC Technology's first acquisition in North America and is consistent with DCC Technology's strategy to extend the geographic footprint and product range of its successful and growing professional audio-visual business, strengthening its partnership with existing suppliers, while also broadening its base of customers and suppliers.

Kondor distributes mobile and accessory products and provides outsourced category management solutions to the retail channel in the UK and Continental Europe. Kondor recorded revenue of £110 million in the year ended 31 December 2017 and employs approximately 250 people. The acquisition of Kondor strengthens DCC Technology's position as one of the leading omnichannel distribution and supply chain businesses in Europe.

The combined initial enterprise value of Stampede and Kondor is c.£110 million. DCC expects the acquisitions to generate a return on capital employed of approximately 15% in the first full year of ownership.

DCC has grown substantially in recent years and now has significant operations across 17 countries, with market-leading positions in each of its LPG, Retail & Oil, Healthcare and Technology divisions. DCC's ambition and capacity for further development, together with the Group's leading market positions and increased geographic reach, provide substantial opportunity for the continued growth and development of the business.

Forthcoming events
DCC will host a Capital Markets Day for analysts and institutional investors in Marseille, France on Thursday 13 September 2018.

DCC expects to announce its interim results for the six months to 30 September 2018 on Tuesday 13 November 2018.

23 Aug
Peel Hunt
N/A
Add

10:30 07/09/2018
Broker Forecast - RBC Capital Markets issues a broker note on DCC PLC
RBC Capital Markets today initiates coverage of DCC PLC (LON:DCC) with a outperform investment rating and price target of 9500p. Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

pro active investor - DCC should be a “key holding” in any investor’s portfolio, argues RBC
Share
12:20 07 Sep 2018
Analysts at Canadian investment bank RBC reckon the stock is undervalued following a summer slide, and points to possible M&A activity and solid fundamentals for its bullish stance

RBC has the stock as a ‘buy’ with a punchy 9,500p price target
DCC should be a “key holding” in any investor’s portfolio, according to RBC Capital, which has kicked off its coverage of the sales, marketing and support services group with an ‘outperform’ rating and a bullish 9,500p price target.
Analysts at the Canadian bank point out that the FTSE 100 group, which markets and sells everything from oil and gas to the latest tech, has a strong track record of “earnings enhancing acquisitions”.

READ: DCC confident of another year of growth
“In our view, DCC could comfortably spend £400mln per annum on M&A whilst not getting close to its self-imposed leverage ceiling of 2.0x EBITDA,” read a note to clients.
“Assuming an average EV/EBITA multiple of 6.5x and 5% growth thereafter, then we see 55% EPS upside to our FY23 base case estimates.”
RBC analysts reckon the US will be a key target for management following DCC’s recent entry into the healthcare and liquefied petroleum gas (LPG) markets across the pond.
In its bullish assessment of the company’s prospects, the investment bank talked up the “strength of [DCC’s] operating model, consistent cashflow and return characteristics and earnings upside potential from consolidation opportunities in its fragmented end markets”.
Despite that, shares have dropped more than 10% over the summer months, which RBC reckons has made the valuation “undemanding” compared to peers and worthy of a punt.
“We see recent underperformance as a buying opportunity, given the valuation versus growth dynamics, particularly in reference to other defensive growth names in Business Services,” said the note.
Shares rose 0.8% in early afternoon trading on Friday to 6,770p, still some-way short of RBC’s target.

DCC Technology acquires Jam Group in North America
RNS
RNS Number : 0814C
DCC PLC
27 September 2018



27 September 2018

DCC Technology announces significant expansion of its business in North America

DCC plc, the leading international sales, marketing and support services group, announces that DCC Technology has acquired the Jam Group of Companies ("Jam", comprising Jam Industries Ltd. and Jam International Ltd.). Jam is a market-leading North American specialist sales, marketing and services business, serving the professional audio, musical instruments and consumer electronics product sectors.

Headquartered in Montreal, Canada, Jam is a world-leader in the professional audio and musical instruments sectors1, providing a range of industry-leading, value adding services and solutions to both its vendor and customer partners. This product sector and channel specialisation includes marketing and sales support, in-house technicians providing technical support, after-sales, repair and warranty repair services, in-house graphics and print services and the provision of white-label e-commerce platforms for smaller retailers and resellers. The business distributes in excess of 500 third party brands, with the majority of these relationships being exclusive, from leading vendors such as Allan & Heath, Focusrite, Harman, Incipio and Marshall and also develops and sells a range of complementary own-brand products. Jam sells to approximately 6,000 B2B and retail customers, including large retailers, e-tailers and specialist retailers and resellers across North America.

Jam is led by an experienced and proven management team, who will continue to manage the business following the acquisition. Jam's operational footprint includes a Canadian sales office and national distribution centre, with a further national distribution centre and six sales offices across the US. The business recorded revenue of US$323 million in the year ended 30 April 2018 and employs approximately 570 people.

The acquisition of Jam is DCC Technology's second acquisition in North America following the acquisition of Stampede in July 2018. The acquisition represents a further step in DCC Technology's strategy to extend its geographic footprint and product range, strengthening its partnership with existing suppliers while also broadening its base of customers and suppliers. Importantly, the very strong service capability of Jam is consistent with DCC Technology's increasing focus on positioning itself as a specialist service partner for customers and suppliers, providing extensive brand reach, market access and simplifying the complex supply chain of its chosen sectors.

The initial enterprise value of Jam is US$170 million (c. £130 million) and DCC expects the acquisition to be 4.5% EPS accretive2 from completion and to generate a return on capital employed of c. 15% in the first full year of ownership.

1 Addressable market is distribution only
2 Based on DCC's financial year ended 31 March 2018


Donal Murphy, Chief Executive of DCC plc, said today:

"The acquisition of Jam significantly strengthens DCC Technology's position in the North American market. DCC Technology now has approximately US$600 million in revenue in North America with a strong, service-led, specialist focus on professional audio and visual, musical instruments and consumer electronics. The growing and fragmented nature of these markets will provide DCC Technology with further opportunities for development in the coming years."

Pre-Close Trading Statement
RNS
RNS Number : 0816C
DCC PLC
27 September 2018


27 September 2018

DCC plc

Pre-Close Trading Statement

Strong growth in first half operating profit

DCC plc, the leading international sales, marketing and support services group, is today issuing this pre-close Trading Statement for the six months ending 30 September 2018.

Six months ending 30 September 2018
DCC expects that Group operating profit for the six months ending 30 September 2018 will be in line with expectations in the seasonally less significant first half. As anticipated, Group operating profit will be well ahead of the prior year, driven by acquisitions completed in the prior year, and trading across each division was also in line with expectations.

Operating profit in DCC LPG was in line with expectations in the first half of the year, notwithstanding the headwind of the material increase in the cost of product. Following a significant period of development since the beginning of the calendar year, each of DCC LPG's recent acquisitions in Hong Kong & Macau, the US and Germany traded in line with expectations during the period.

DCC Retail & Oil recorded strong growth in operating profit versus the prior year, reflecting the contribution from acquisitions completed in the prior year and strong organic profit growth in Britain and Denmark.

DCC Healthcare recorded strong growth in operating profit in the first half of the year. DCC Vital achieved strong organic profit growth, particularly in GP supplies and medical devices. DCC Health & Beauty Solutions delivered strong organic growth and also benefited from the acquisition of Elite One Source, which completed in February 2018.

Operating profit in DCC Technology was strongly ahead of the prior year. The business benefited from the first-time contribution from the acquisitions of Stampede and Kondor and also from good organic profit growth in the UK and Ireland, DCC Technology's largest business.

Year to 31 March 2019
The Group reiterates its belief that the year ending 31 March 2019 will be another year of profit growth and development.

Development activity
DCC has today separately announced the acquisition of the Jam Group of Companies ("Jam", comprising Jam Industries Ltd. and Jam International Ltd.) by DCC Technology.

Jam is a market-leading North American specialist sales, marketing and services business serving the professional audio, musical instruments and consumer electronics product sectors. The initial enterprise value of Jam is US$170 million (c. £130 million) and DCC expects the acquisition to be 4.5% EPS accretive1 from completion and to generate a return on capital employed of c. 15% in the first full year of ownership. The acquisition of Jam significantly strengthens DCC Technology's position in the North American market. DCC Technology now has approximately US$600 million in revenue in North America with a strong, service-led, specialist focus on professional audio and visual, musical instruments and consumer electronics.

The year to date has continued to be active from a development perspective. Including the completed acquisition of Jam, the Group's committed spend on acquisitions since the Preliminary Results Announcement on 15 May 2018 is approximately £270 million.

DCC has grown substantially in recent years and now has significant operations across 17 countries and three continents, with leading market positions in each of its LPG, Retail & Oil, Healthcare and Technology divisions. DCC has the platforms, opportunities and capability to continue building the Group into a global leader in its chosen sectors.

Interim results
DCC expects to announce its interim results for the six months ending 30 September 2018 on Tuesday 13 November 2018.

1 Based on DCC's financial year ended 31 March 2018

Proposed Placing of new Ordinary Shares
RNS
RNS Number : 0817C
DCC PLC
27 September 2018



27 September 2018

THIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

DCC plc

Proposed placing of new Ordinary Shares

DCC plc ("DCC" or the "Company"), the leading international sales, marketing and support services group, today announces its intention to conduct a placing of up to 8,904,500 new ordinary shares in the capital of the Company (the "Placing Shares") to institutional investors (the "Placing"), representing up to 10% of the existing issued share capital (excluding Treasury Shares) of the Company.

The Placing is being conducted, subject to the satisfaction of certain conditions set out in the Appendix to this announcement, through an accelerated bookbuild process (the "Bookbuild") which will be launched immediately following this placing announcement (the "Announcement") and will be made available to eligible existing institutional shareholders and new institutional investors. J.P. Morgan Securities plc, which conducts its UK investment banking activities as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), and J&E Davy ("Davy") are acting as Joint Global Coordinators and Joint Bookrunners in connection with the Placing.

The Company has separately announced today that DCC Technology has acquired the Jam Group of Companies ("Jam", comprising Jam Industries Ltd. and Jam International Ltd.). Jam is a market-leading North American specialist sales, marketing and services business serving the professional audio, musical instruments and consumer electronics product sectors. The initial enterprise value of Jam is US$170 million (c. £130 million) and DCC expects the acquisition to be 4.5% EPS accretive1 from completion and to generate a return on capital employed of c. 15% in the first full year of ownership.

The Company has also published today, in a separate announcement, a Trading Statement for the half year ending 30 September 2018 (the "Results") (the "Results Announcement").

Use of Proceeds
Acquisitive development has always been, and remains, an integral part of the Group's growth strategy and has contributed to operating profit growth over 24 years at a compound annual growth rate of 14.4%. Reflecting the increasing scale and geographic development of the Group, during the last twelve months DCC has deployed over £900 million across a number of acquisitions2, including the acquisition of Jam announced separately today. The net proceeds of the Placing will enable the continued implementation of DCC's targeted acquisition strategy, by enhancing the balance sheet strength and liquidity of the Group, ensuring DCC can efficiently execute acquisition opportunities and remains a credible and capable acquirer.

The Placing
The Bookbuild will open with immediate effect following this Announcement. The number of Placing Shares and the price at which the Placing Shares are to be placed (the "Placing Price") will be agreed by J.P. Morgan Cazenove, Davy and DCC at the close of the Bookbuild. The timing of the closing of the Bookbuild, pricing and allocations are at the discretion of J.P. Morgan Cazenove, Davy and DCC. Details of the Placing Price and the number of Placing Shares will be announced as soon as practicable after the close of the Bookbuild.

The Placing is subject to the conditions and termination rights set out in the placing agreement between the Company, J.P. Morgan Cazenove and Davy (the "Placing Agreement"). Further details of the Placing Agreement can be found in the terms and conditions contained in the Appendix to this Announcement (which forms part of this Announcement).

The Placing Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue. The issue and allotment of the Placing Shares is within the existing authorities of the Board of DCC.

Application has been made for the Placing Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc (together, "Admission"). It is expected that settlement for the Placing Shares and Admission will take place at 8.00 a.m. on 1 October 2018. The Placing is conditional, inter alia, upon Admission becoming effective not later than 8.00 a.m. on 1 October 2018 (or such later date as the Company, J.P. Morgan Cazenove and Davy may otherwise agree) and upon the Placing Agreement becoming unconditional and not being terminated in accordance with its terms.

By choosing to participate in the Placing and by making an oral and legally binding offer to acquire Placing Shares, investors will be deemed to have read and understood this Announcement in its entirety (including the Appendix) and to be making such offer on the terms and subject to the conditions in it, and to be providing the representations, warranties and acknowledgements contained in the Appendix. The detailed terms and conditions of the Placing are set out in the Appendix to this Announcement. Investors should also read and understand the information provided in the Important Notice in the next section of this Announcement.

1 Based on DCC's financial year ended 31 March 2018
2 The Important Notice in the next section of this Announcement specifies acquisitions that have taken place in the last six months

Six months results ending 30 Sept 2018


· Strong first half performance with Group adjusted operating profit on continuing activities increasing by 15.9% (up 16.5% on a constant currency basis) to £141.9 million, with all divisions performing in line with expectations.

· Adjusted earnings per share on continuing activities up 12.1% (13.0% ahead on a constant currency basis) to 107.1 pence.

· Interim dividend increased by 10.0% to 44.98 pence per share.

· The Group continues to be active from a development perspective and committed approximately £270 million to new acquisitions since the preliminary results in May 2018.

· Continued expansion of the Group's presence in North America with DCC Technology entering the market for the first time through the acquisitions of Stampede and Jam. These complementary acquisitions provide DCC Technology with a strong platform for further development in the growing and fragmented North American market.

· On 27 September 2018, DCC raised approximately £600 million from an equity placing which completed on 2 October 2018. The proceeds of the placing will enable the continued implementation of DCC's targeted acquisition strategy, by enhancing the balance sheet and liquidity of the Group, ensuring DCC remains a credible and capable acquirer and can efficiently execute acquisition opportunities as they arise.

· The Group reiterates its belief that the year ending 31 March 2019 will be another year of profit growth and development.

Broker Forecast - Berenberg issues a broker note on DCC PLC
BFN
Berenberg today reaffirms its buy investment rating on DCC PLC (LON:DCC) and cut its price target to 8350p (from 8700p).

Story provided by StockMarketWire.com

Broker Forecasts data provided by www.sharesmagazine.co.uk

10:30 21/11/2018
Broker Forecast - UBS issues a broker note on DCC PLC
UBS today reaffirms its buy investment rating on DCC PLC (LON:DCC) and cut its price target to 8000p (from 8500p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk