Distribution and business services group DCC is targeting a number of acquisitions for the second half of the year, shareholders were told today.
DCC's chief executive, Mr Jim Flavin, told its annual general meeting that the company is "aggressively pursuing ambitious organic and acquisition growth".
Good progress has been made in acquisition discussions in all core business areas, Mr Flavin added.
Performance so far this year was ahead of budget and as DCC's business is significantly second half weighted, the company is confident of another successful year. About two-thirds of operating profit generated in the second half of the year from business such as heating oil and gas distribution in the winter months.
DCC achieved particularly strong profit growth in the IT distribution division, healthcare and environmental services.
The significant increase in the price of oil in the first quarter has had a short term impact on the profits of the energy division but it is expected that this will recover for the year as a whole, the meeting was told.