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DCC’s food business hit by contract loss

Dublin, Ireland: Operating profits at Irish conglomerate DCC’s food and beverage division fell by 7.2% to €10.7m while revenues dropped 11.4% to €223.4m for the year to the end of March – mainly due to the loss of a major contractor in the frozen and chilled logistics business in the second half of the year.

Overall DCC reported operating profits of €185m. Revenues for the year, however, rose by 23.2% to €10.69 billion on the back of acquisitions and strong organic growth in its SerCom division.

DCC’s activities include oil distribution and healthcare.