17th Jul 2015 06:32
LONDON (Alliance News) - FTSE 250-listed distribution company DCC PLC on Friday said it still expects a "very significant" improvement in its full-year results for its current financial year following robust trading in the first quarter.
DCC said its overall operating profit for the first quarter to the end of June was in line with its expectations, with good growth in its DCC Energy, Healthcare and Environmental business, which was partially offset by weaker trading for DCC Technology.
DCC said its profit will be significantly weighted toward the second half of the financial year, but it continues to anticipate its operating profit and adjusted earnings per share will be "very significantly" higher year-on-year.
It noted its guidance is partly based on the assumption that its acquisition of Butagaz, the fuel distribution company, will complete in the final calendar quarter of 2015 and that weather conditions in the winter months will be normal.
The group said its DCC Energy business traded ahead of expectations in the first quarter, with a particularly strong performance in its liquefied petroleum gas activities. DCC Healthcare is also growing well and in line with expectations, as is its DCC Environmental arm.
But DCC Technology trading was weaker year-on-year, with the weak tablet market in the UK and reduced sales of mobile computing and smartphone products for one of its suppliers hitting results
By Sam Unsted; [email protected]; @SamUAtAlliance
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