H1 20 results, new US Health and Beauty acquisition

  • Sectors : Business Support Services
  • Companies : DCC

Ratings and price correct at time of issue.

  • DCC

    Closing Price: 7374p

  • RATING 30/06/09



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 the US for $60m, delivering on DCC Healthcare’s strategy to acquire in the large, fragmented and growing US nutrition/contract manufacturing outsourcing (CMO) space. We have made minor revisions to our EPS forecasts, reflecting FX and recent weakening in the UK technology market. We remain firmly of the view that DCC has the platforms, opportunity set and balance sheet to drive very material future growth.

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Nov 12 2019, 07:10 GMT