THE north's largest oil distributor DCC Energy saw its profit and operating margin both jump in the last trading year despite a near £45 million dip in sales - and says it is continuing to eye up more acquisitions.
A subsidiary of Dublin-based sales, marketing, distribution and business support services group DCC plc, its Belfast division is the trading name for Emo Oil, while it also distributes liquefied petroleum gas (LPG) under the Flogas brand.
DCC Energy - which operates two main terminals in Belfast importing oil and LPG into Northern Ireland - saw its turnover plunge from £190.3 million in 2015 to £146.2 million in the 12 months to March past.
Figures filed at Companies House showed that despite the significant drop in sales, its gross profit still edged up from £15.8m to £16.6m.
In turn, operating profit went up from £2,984,000 to £3,553,000, which represented a margin of 2.42 per cent against just 1.67 per cent a year earlier.
The directors say they consider the results for the year and position of the company to be "satisfactory" given the impact of the challenging economic environment - "and combined with the relatively mild winter temperatures".
The company, which is led by managing director Pat O'Neill, added that it will continue to increase profitable turnover "both by organic growth and acquisition".
DCC Energy employs 173 people (the majority in sales and distribution) and had staff costs last year of £5.4 million, marginally down on the previous year.
Its highest paid director received £182,000 during the year - a hefty hike on his previous salary of £128,000.
Earlier this month DCC's parent company revealed that the group's overall operating profit jumped by a third to £117.8m in the six months to the end of September - traditionally its quietest period.
Revenue was 10.5pc higher at £5.6 billion. Excluding fuel sales, revenue was up 5.1 per cent at £1.47 billion.
