DCC PLC
28 September 2001
DCC ANNOUNCES SHARE BUYBACK
DCC plc, the value added marketing and distribution group, has achieved
excellent growth since its listing in 1994. In the five years ended 31 March
2001 DCC achieved compound annual growth in adjusted EPS of 21.5%.
DCC has also been extremely cash generative throughout this period and at 31
March 2001 had net cash of EUR83.2 million.
The outlook in the current year is for continued growth and DCC intends to
continue investing both organically and by acquisition to exploit growth
opportunities in its markets. DCC is currently actively pursuing a range of
acquisition opportunities across its energy, healthcare and IT operations.
The Group also intends to avail of opportunities to buy back the Company's
stock at attractive prices which will enhance the Group's earnings per share.
Such a selective approach to share buy backs will have a minimal impact on
DCC's financial capacity and is intended to complement, rather than substitute
for, the Group's significant capital spending and acquisition programmes.
DCC has today purchased 2,000,000 of its own shares, representing 2.33% of its
issued share capital (excluding Treasury Shares), at EUR9.25 per share, at a
total cost of EUR18.5 million.
For reference:
Conor Costigan, Investor Relations Manager
Telephone: + 353 1 2799 400
Email: investorrelations@dcc.ie
For further information on DCC - www.dcc.ie
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