8th Feb 2023 08:51
(Alliance News) - DCC PLC on Wednesday said profit in its financial third quarter, which ended on December 31, was in line with expectations and ahead of the previous year.
DCC is a Dublin-based sales, marketing, and support services company.
The company said DDC Energy delivered a good operating profit growth in both the Mobility and Solutions businesses, despite the weather conditions being milder than average during the quarter.
In DCC Healthcare, however, operating profit declined 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", the company noted.
It added that DCC Technology delivered good operating profit growth, in line with expectations, which was driven by strong growth in North America.
Group adjusted operating profit for financial 2022 amounted to GBP589.2 million. Pretax profit was GBP405.7 million. This was on revenue of GBP17.73 billion.
Looking ahead, DCC expects "strong" operating profit growth in the year to March 31 to be in line with current market consensus. It expects to announce annual results on May 16.
Back in November, DCC had reported a 44% rise in revenue for the six months that ended on September 30 to GBP10.84 billion from GBP7.52 billion the year before. Pretax profit increased by 15% to GBP132.3 million from GBP115.0 million.
Shares in the FTSE100-company were flat at 4,663.00 pence each on Wednesday morning in London.
By Xindi Wei, Alliance News reporter
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