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DCC Food & Beverage Posts 33% Profits Increase

DCC plc has announced that its Food & Beverage division has posted a 33.3% increase in operating profit to £3.1 million, for the six month period to 30 September 2014.

Revenues at the group's Food & Beverage division fell 8.3% in the period, to £89 million (£97 million in the same period in 2013).

DCC said that the profit growth for the period was "primarily driven by a strong performance in its wine business in Britain and Ireland."

The group announced in September that it is divesting its Robert Roberts business, which includes the Findlater Wine & Spirits business, and Kelkin to Valeo Foods, while in October, DCC also announced the sale of Allied Logistics to Musgrave.

While both deals are subject to competition clearance, DCC said that the 'aggregate consideration from these disposals is approximately €75 million (£60 million) and any gain over their combined carrying value, including goodwill, is expected to be modest.'

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