DCC expands its fuel card bus
5 January 2009
DCC expands its fuel card business in Britain
DCC plc, the business support services group, has acquired the fuel card business of Cooke Holdings Limited ('Cooke Fuel Cards'). Cooke Fuel Cards, a leading British fuel card sales and marketing business, sells approximately 105 million litres of motor fuels per annum through fuel cards which it markets under a number of leading brands (including BP, Shell, Diesel Direct and Texaco) to approximately 5,000 customers who operate commercial vehicle fleets. The business, which is based in Burnley in the north of England, employs 38 people and will be integrated with DCC Energy's existing fuel card business, Fuel Card Services Limited.
The adjusted operating profit of Cooke Fuel Cards for the year ended 31 December 2008 is expected to be approximately €2.9 million (Stg£2.7 million). The cash consideration paid for the business, net of average cash acquired, was €10.1 million (Stg£9.5 million).
Tommy Breen, Chief Executive of DCC plc, said today:
'DCC Energy, in addition to being the leading oil and LPG sales, marketing and distribution business in Britain and Ireland, is also one of the leading fuel card sales and marketing businesses in Britain and sells approximately 270 million litres of motor fuel per annum through a portfolio of leading fuel cards. The acquisition of Cooke Fuel Cards will significantly increase the scale of DCC's fuel card business and further strengthen our relationships with our key suppliers.'
For Reference:
Tommy Breen, Chief Executive, DCC plc
Donal Murphy, Managing Director, DCC Energy
Conor Murphy, Investor Relations Manager
Telephone: +353 1 2799400
Email: investorrelations@dcc.ie
Web: www.dcc.ie
About DCC plc
DCC plc is a procurement, sales, marketing, distribution and business support services group headquartered in Dublin with international operations across four continents. DCC has five divisions - DCC Energy, DCC SerCom, DCC Healthcare, DCC Environmental and DCC Food & Beverage. In its last financial year to 31 March 2008, DCC had revenue of €5.532 billion and operating profits of €167.2 million and currently employs approximately 7,300 people. DCC's shares are listed on both the Irish and London stock exchanges under Business Support Services.
About DCC Energy
DCC Energy is the leading oil and liquefied petroleum gas (LPG) sales, marketing and distribution business in Britain and Ireland. In the year ended 31 March 2008, DCC sold 4.36 billion litres of product to approximately 500,000 domestic, commercial, industrial and agricultural customers from its extensive network of 194 depots throughout Britain and Ireland, generating revenue of €3.420 billion and operating profits of €74.3 million. DCC Energy currently employs approximately 3,000 people.
This information is provided by RNS
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