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.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now