DCC PLC (LSE:DCC) shares leapt 8.5% to a 15-month high of 5,062p after its Energy arm bought one of Germany's largest liquefied petroleum gas (LPG) distributors for a value of €160 million (£140 million) and the group announced 12% profit growth in the first half of the year.
Purchasing Progas more than triples the FTSE 100-listed energy, healthcare and technology conglomerate's customer base in Germany to over 100,000 domestic and commercial customers.
The Dublin-based group said LPG is an important element of its Energy strategy as it is slightly less carbon-emitting than other hydrocarbon-based fuels.
In its interim results, adjusted operating profit rose 12% to £247.6 million on sales that were down 11% at £9.6 billion in what is a "seasonally less significant" six months to end-September.
Acquisitions, of which seven were agreed during the half-year, contributed 7.8% of profit growth, with organic growth only 4.4% as improvements at DCC Energy were offset by a decline in both DCC Healthcare and DCC Technology.
The interim dividend was increased 5% to 63.04p per share.
Chief executive Donal Murphy said: "Although the macro environment remains volatile, DCC continued to perform thanks to our resilient and diverse business. DCC Energy traded strongly while continuing to execute the Cleaner Energy in Your Power strategy we outlined earlier this year."