DCC trades in line despite 'difficult' macro environment

(Sharecast News) - Sales and marketing firm DCC said on Tuesday that it had delivered a good third quarter trading performance and reiterated full year guidance despite a difficult macroeconomic environment.
DCC said its LPG arm continued to perform strongly and delivered good organic profit growth throughout the third quarter and also benefited from the contribution of Pacific Coast Energy, acquired earlier in the financial year.

The FTSE 100-listed group's Retail & Oil unit performed in line with expectations and benefited from a good performance from the division's retail activities, while trading in DCC Technology's UK business was impacted by the general weakness in the UK technology market, reflecting the more difficult economic environment.

Following the disposal of its UK generic pharma business during the first half of the year, DCC Healthcare was said to have delivered "good" like-for-like profit growth.

"Assuming normal weather conditions for the balance of the financial year, the group reiterates its belief that the year ending 31 March 2020 will be another year of development and good growth in group operating profit, in line with current market consensus expectations," said the group.

As of 0820 GMT, DCC shares were up 1.48% at 6,312p. DCC