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.

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