18th Jul 2014 10:30
LONDON (Alliance News) - Support services company DCC PLC Friday said overall trading for the first quarter to June 30 was in "line with budget," and that it now expects operating profit and adjusted earnings per share for the full-year to March 31, 2015 to be around 10%-12% higher than the year earlier.
FTSE 250-listed DCC said its largest division - DCC Energy - traded broadly in line with budget during the quarter, but as expected was behind last year, which had the benefit of colder than usual weather conditions.
In addition, trading in DCC Technology, the group's second largest division, was in line with budget and ahead of last year, principally reflecting continued sales growth in IT and communications products.
Conversely, DCC Healthcare performed ahead of budget and the prior year, benefiting from the continued strong sales performance in DCC Health & Beauty Solutions.
DCC's two smaller divisions, DCC Environmental and DCC Food & Beverage, both traded in line with budget and ahead of last year as the economic recovery in Britain and Ireland continues.
Looking ahead, the company made an early prediction that operating profit and adjusted earnings per share will be around 10%-12% ahead of last year.
"This guidance continues to be set against the important assumption that there will be normal winter weather conditions," DCC said.
"Having regard to the unseasonably colder start to the prior year, it is anticipated that this growth in the year to March 2015 will be significantly weighted towards the second half," the company added.
DCC will publish its interim results for the six months to September 30 on November 4.
DCC shares were quoted down 1.3% at 3,450.00 pence Friday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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