20th Jul 2007 07:00
DCC PLC20 July 2007 Interim Management Statement DCC plc, the procurement, sales, marketing, distribution and business supportservices group listed on both the Irish and London stock exchanges, is issuingthis Interim Management Statement in accordance with the reporting requirementsof the Transparency Regulations 2007, in advance of the Company's AGM to be heldin Dublin at 11.00 am today. DCC's business is significantly second half weighted and in the currentfinancial year to 31 March 2008 DCC budgeted for approximately 70% of Groupprofits to be earned in the second half. DCC's operating profit growth in its first quarter to 30 June 2007 wassatisfactory. This is particularly so having regard to the adverse impact on theresults of DCC Energy of the exceptionally mild weather in Britain and Irelandin April, a seasonally important trading month in the energy business. Resultsin DCC SerCom, DCC Healthcare, DCC Food & Beverage and DCC Environmental were inline with budget. DCC, in its preliminary results announcement on 14 May 2007, guided anexpectation of high single digit operating profit growth in the year to 31 March2008. Taking into account results for the first quarter, updated expectationsfor the remainder of the year and subject to completion of the plannedacquisition of CPL Petroleum Limited, separately announced today, DCC nowexpects the Group to achieve low double digit operating profit growth in theyear to 31 March 2008. As announced on 14 February 2007, DCC and Joe Moran, who own 49% and 51%respectively of Manor Park Homebuilders Limited ("Manor Park"), jointlyappointed Goodbody Corporate Finance and IBI Corporate Finance to seek offersfor 100% of the share capital of Manor Park. The formal sale process is ongoingand a further announcement will be made as soon as appropriate. DCC continues to be active in pursuing acquisitions in each of its core areasand is pleased to have announced today the planned acquisition of CPL PetroleumLimited, a leading British based oil distribution business, for a considerationof €74.2 million (Stg£50 million). DCC continues to have a strong balance sheet to fund acquisition and organicgrowth. For reference: Jim Flavin, Executive Chairman, DCC plcTommy Breen, Group Managing Director, DCC plcFergal O'Dwyer, Chief Financial Officer, DCC plcConor Murphy, Investor Relations Manager, DCC plc Telephone: + 353 1 2799400Email: [email protected]: www.dcc.ie About DCC plc: DCC plc is a procurement, sales, marketing, distribution and business supportservices group headquartered in Dublin with international operations across fourcontinents. DCC has five divisions - DCC Energy, DCC SerCom, DCC Healthcare, DCCFood & Beverage and DCC Environmental. In its latest financial year to 31 March2007, DCC had sales of €4.046 billion, operating profits of €143.0 million andcurrently employs over 6,000 people in 16 countries. DCC's shares are listed onboth the Irish and London stock exchanges under Business Support Services. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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