Full Year Results 

DCC maintains capital discipline despite expansion

DCC maintains capital discipline despite expansion

The increase i DCC’s (DCC) net debt from a year ago reflects the continued up-scaling of the FTSE 100 constituent, as does a 20 per cent increase in liquefied petroleum gas volumes – a consequence of the acquisitions of Gaz Européen and Shell Hong Kong & Macau, the second of which completed in January. Even with those deals, net debt accounts for a manageable 1.1 times cash profits, leaving the Irish conglomerate with “plenty of gas in the tank”, according to chief executive Donal Murphy.

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