DCC, the company facing court action from Fyffes, has announced before-tax profits were up 8.5 per cent to €126m in the year ending March 2004.

Sales were up 24.3 per cent to €2.7bn while operating profit was up 8.8 per cent to €131.5m.

DCC boss Jim Flavin, said: "Energy, healthcare, food and beverage, environmental and other activities all achieved excellent profit growth.”

Fruit importer Fyffes is bringing an insider dealing case against DCC in relation to the sale by DCC in February 2000 of 10 per cent of Fyffes for €108m.

The shares later collapsed from €4 to €1 over a period of months. DCC insisted today that none of its executives were in possession of price-sensitive information.

In its accounts, DCC has made no provision for a payout on foot of the case and has only set aside money to cover the company's legal expenses.

Some estimates say the case is costing both sides around €50,000 a day.

The hearing is expected to finish before the end of July this year, but it is likely to be a number of months before a judgement on the case is announced.

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