DCC remains optimistic on full-year trading after modest third quarter

(Alliance News) - DCC PLC on Wednesday said it traded in line with expectations in the third quarter of its financial year, and the company remained positive on its full-year results outlook.

The Dublin-based sales, marketing and support services provider said adjusted operating profit for the three months that ended December 31 were "broadly in line" with the prior year.

On a constant currency basis, however, profit was "modestly ahead".

"DCC Energy traded robustly and delivered good operating profit growth," the firm said.

"Despite the impact of warmer weather conditions, Energy Solutions delivered good growth driven by the performance of Continental Europe. The Mobility business also performed well and delivered strong growth."

DCC said its Healthcare arm performed in line with flat expectations, ahead of the division's planned disposal in 2025, while operating profit declined at DCC Technology, driven by "a weak market for consumer technology products in the UK and Europe over the holiday season".

DCC said it expects the year ending March 31 to be "a year of good operating growth and significant strategic progress".

Davy Research has forecast full-year adjusted operating profit of GBP713 million for DCC, which would be up 4.3% from GBP682.8 million last year.

"The group remains active from a development perspective and has a good pipeline of opportunities in the energy sector," DCC said.

DCC expects to release its full-year results on May 13.

The firm's shares were down 2.6% at 5,350.00 pence in London on Wednesday morning.

By Emily Parsons, Alliance News reporter

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