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DCC says businesses hitting targets

Friday, July 18 10:35:29

DCC, the Dublin-listed energy and distribution group, this morning said that its businesses traded in line with expectations in the first three months of the year and are on target for the full year.

Although it says it's early days yet, it now anticipates that operating profit and adjusted earnings per share will be approximately 10pc to 12pc ahead of last year.

The Irish international sales, marketing, distribution and business support services group said in a trading statement that DCC Energy, the Group's largest division, traded broadly in line with budget but, as anticipated, behind last year, which had the benefit of colder than normal weather conditions in the first quarter.

Trading in DCC Technology, the Group's second largest division, was in line with budget and ahead of last year, principally reflecting continued sales growth in IT and communications products.

DCC Healthcare performed ahead of budget and the prior year, benefitting from the continued strong sales performance in DCC Health and Beauty Solutions and from the contributions from acquisitions completed over the last year.

DCC's two smaller divisions, DCC Environmental and DCC Food and Beverage, both traded in line with budget and ahead of last year as the economic recovery in Britain and Ireland continues.