9th Nov 2021 10:02
(Alliance News) - DCC PLC on Tuesday announced a strong interim performance with all four divisions showing growth, leading to a bolstered dividend.
The Dublin-based sales, marketing and support services firm reported pretax profit of GBP115.0 million in the six months to September 30, rising 13% from GBP102.1 million last year. In financial 2021, the firm's interim pretax profit had almost doubled from GBP57.6 million a year prior.
The profit increase came on the back of a 26% rise in revenue to GBP7.52 billion from GBP5.93 billion.
"I am pleased to report a strong performance in the seasonally less significant first half, which builds on the growth recorded during the first half of the prior year. Each of our four divisions has delivered good growth, underlining the resilience of our business model and our ability to adapt to the very volatile macro environment," Chief Executive Donal Murphy said.
DCC upped its interim dividend 7.5% to 55.85 pence from 51.95 pence last year.
Looking ahead, DCC said: "Notwithstanding the adverse impact of currency translation and the significantly increased wholesale cost of energy products, DCC continues to expect that the year ending March 31, 2022 will be another year of strong operating profit growth and continued development activity, and in line with current market consensus expectations."
DCC also said it has hired Alan Ralph as a non-executive director. He took up the position on Monday. Ralph spent about 20 years with Dublin-based UDG Healthcare PLC, where for five years he was chief financial officer.
UDG was acquired by private equity firm Clayton, Dubilier & Rice LLC back in August and delisted.
DCC Chair Mark Breuer said Ralph's financial expertise, business leadership experience and knowledge of the healthcare sector "will enhance the board's knowledge in several key areas".
DCC shares fell 2.7% to 6,114.00 pence each in London on Tuesday morning.
By Greg Roxburgh; [email protected]
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