6th Nov 2013 11:54
LONDON (Alliance News) - Irish support services company DCC PLC Wednesday reported higher profits and revenues for the first half of its financial year, driven by growth across all its businesses, but particularly its oil and liquefied petroleum gas supply business.
Pretax profit in the six months to end-September was GBP42.5 million, up from GBP30.9 million a year earlier, outperforming an 11% increase in revenues to GBP5.42 billion, from GBP4.88 billion.
It raised its interim dividend 10% to 26.12 pence, from 23.75 pence.
Profits and revenues were lifted by acquisitions and organic growth. Operating profits were up nearly 78% in its energy unit, 11% at its mobile computing unit, and nearly 30% in its healthcare unit.
The second-half of the year tends to be more important in terms of the company's earnings as the winter weather determines demand for its LPG fuel supplies. For the time being, it is keeping its guidance that operating profit will be up 15% in the year to end-March, and adjusted earnings per share up about 13%.
Total operating profit was up 38% to GBP69.4 million in the first half of the year.
DCC shares were up 1.6% at 2,843.56 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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