5th Feb 2019 07:52
LONDON (Alliance News) - DCC PLC on Tuesday said operating profit in the third quarter of its current financial year was "significantly" ahead of the prior year, despite milder winter weather conditions.
The FTSE 100-listed sales, marketing, and support services company benefited from a first-time contribution from prior acquisitions of gas companies Retail West, TEGA, and Shell Hong Kong & Macau.
"Organically, the business performed well, despite the mild winter weather conditions experienced in the quarter, which impacted heating related volumes in Europe," the company said in the statement Tuesday.
On a divisional basis, DCC Retail & Oil delivered strong organic operating profit growth, driven by good performances from the UK and Denmark. The unit also saw a "robust" performance in France where growth was impacted by the regular nationwide protests.
Operating profit in DCC Healthcare was well ahead of the prior year, the company highlighted.
The DCC Vital segment generated strong organic profit growth and continued to strengthen its market position in general practice supplies and medical devices in the UK," DCC continued.
Meanwhile, DCC Health & Beauty Solutions segment again delivered good organic growth in both nutrition and beauty.
The DCC Technology division recorded strong operating profit growth, driven by the first-time contribution from acquisitions and a good organic performance in the UK and Ireland, the company said.
Looking ahead, DCC expects annual operating profit to be "significantly" ahead of the prior year and in line with current market consensus expectations.
DCC expects to announce its results for the year to the end of March on May 14.
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