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8 Feb 2023 07:00
DCC plc
Interim Management Statement
DCC reiterates guidance for strong profit growth; Q3 trading in line with expectations
DCC plc, the leading international sales, marketing and support services group, is issuing this Interim Management Statement for the third quarter ended 31 December 2022.
Third quarter ended 31 December 2022
Group operating profit for the third quarter ended 31 December 2022 was in line with expectations and ahead of the prior year, a good performance given the challenging macro environment.
DCC Energy delivered good operating profit growth in both the Mobility and Solutions businesses, notwithstanding the weather conditions being milder than average during the third quarter of the financial year. Operating profit declined in DCC Healthcare, where DCC Health & Beauty Solutions saw reduced demand as customers continued to reduce their inventory levels. This offset the strong growth delivered by DCC Vital, which performed well and benefited from the acquisition of MediGlobe. DCC Technology delivered good operating profit growth, in line with expectations, driven by strong growth in North America.
Year ending 31 March 2023
DCC continues to expect that the year ending 31 March 2023 will be another year of strong operating profit growth, in line with current market consensus expectations.
Development activity
DCC has now committed approximately £330 million to new acquisitions since the annual results announcement in May 2022. Since the Interim Results announcement in November 2022, DCC Energy has completed a number of small bolt-on acquisitions which provide solar and heat pump services to customers.
Year end results
DCC expects to announce its results for the year ending 31 March 2023 on 16 May 2023.
Investor enquiries: | |
Kevin Lucey, Chief Financial Officer | Tel: +353 1 2799 400 |
Rossa White, Head of Group Investor Relations | Email: investorrelations@dcc.ie |
Media enquiries: | |
Powerscourt (Eavan Gannon/Genevieve Ryan) | Tel: +44 20 7250 1446 |
Email: DCC@powerscourt-group.com |
About DCC plc
DCC is a leading international sales, marketing and support services group with a clear focus on sustainable growth. DCC is an ambitious and entrepreneurial business operating in 22 countries, supplying products and services used by millions of people every day. Building strong routes to market, driving for results, focusing on cash conversion and generating superior sustainable returns on capital employed enable the Group to reinvest in its business, creating value for its stakeholders.
Headquartered in Dublin, the Group operates across three sectors: energy, healthcare and technology, employing over 16,000 people. DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In its financial year ended 31 March 2022, DCC generated revenue of £17.7 billion and operating profit of £589.2 million.
DCC has an excellent record, delivering compound annual growth of 14% in operating profit and generating an average return on capital employed of approximately 19% over 28 years as a public company.
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www.dcc.ie
Forward-looking statements
This announcement contains some forward-looking statements that represent DCC's expectations for its business, based on current expectations about future events, which by their nature involve risk and uncertainty. DCC believes that its expectations and assumptions with respect to these forward-looking statements are reasonable, however because they involve risk and uncertainty as to future circumstances, which are in many cases beyond DCC's control, actual results or performance may differ materially from those expressed in or implied by such forward-looking statements.
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