(Alliance News) - DCC PLC on Tuesday reported strong interim growth in a "seasonally less significant first half", amid higher commodity prices.
DCC is a FTSE 100-listed sales, marketing, and support services company.
Shares were down 5.9% at 4,653.00 pence each, making it one of the worst FTSE-100 performers on Tuesday morning in London.
For the six months that ended on September 30, revenue jumped by 44% to GBP10.84 billion from GBP7.52 billion the year before. This is "primarily due to significantly higher revenue in DCC Energy where commodity prices were materially higher than during the first six months of the prior year", DCC explained.
Pretax profit increased by 15% to GBP132.3 million from GBP115.0 million.
Total operating profit increased by 13% to GBP221.2 million from GBP195.8 million, driven by growth in DCC Energy, the company explained. In DCC Energy, operating profit rose by 12% to GBP132.5 million from GBP118.4 million a year earlier.
Chief Executive Officer Donal Murphy said: "DCC reported strong growth in the seasonally less significant first half of our financial year. The group continued to perform well in a volatile and challenging environment, reflecting our resilient business model and strong market positions."
DCC declared an interim dividend of 60.04 pence each, up 7.5% from 55.85p a year prior.
Looking ahead, DCC expects that financial 2023 will be another year of profit growth and development, "notwithstanding the current challenging macro environment".
By Xindi Wei; xindiwei@alliancenews.com
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DCC (DCC)