Business Support Services

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DCC

H1 20 results, new US Health and Beauty acquisition

DCC has reported another strong set of results, delivering both underlying organic growth and a c.8% contribution from M&A. The key highlight is the acquisition of Ion Laboratories in...

DCC

Q1 IMS: steady as she goes

DCC has delivered good operating profit growth through the first quarter. We expect to make no changes to our underlying assumptions for the group, which highlights the resilience of...

DCC

FY 2019: Diversity delivers

DCC Group has exited its 25th year of trading with double-digit growth across all four divisions and strategically important transactions in DCC LPG, DCC Technology and DCC Retail & Oil...

DCC

Opportunity knocks!

We think consistency of strategy and execution has been the key driver of DCC’s performance for the last two-and-a-half decades as a listed plc. In this report, we argue that DCC...

Applegreen

Thoughts post results and conference call

Applegreen has delivered another year of 20% EBITDA growth and despite UK macro headwinds, estimates currently look well underpinned for 2019 and 2020. The company also has €50m...

DCC

Q3 2019 IMS – ‘Defensive growth’

DCC has delivered a positive trading update for its third quarter, with each of the four divisions performing well and management comfortable with FY 2019 consensus expectations. With a...