DCC plc (LON:DCC), the leading international sales, marketing and support services group, has issued this update in advance of the Company’s AGM to be held in Dublin at 11.00 am today.
First quarter ended 30 June 2022
Following a strong performance for the year ended 31 March 2022, DCC again delivered strong growth in the seasonally less significant first quarter of the year ending 31 March 2023. Group operating profit was in line with expectations and well ahead of the prior year, driven by strong growth in DCC Energy. DCC Healthcare traded robustly and in line with expectations. DCC Technology recorded strong growth, benefitting from the first-time contribution of the acquisition of Almo.
Outlook
DCC continues to expect that the year ending 31 March 2023 will be another year of profit growth and development, notwithstanding the challenging macro environment at present.
Sustainability and development activity
DCC released its second annual standalone Sustainability Report on 12 July 2022. The report highlights how the Group creates sustainable value for its stakeholders and demonstrates how the Group is progressing against its sustainability objectives.
Aligned with the Group’s view on sustainability, DCC announced its new Leading with Energy strategy at its capital markets event on 17 May 2022. DCC Energy’s strategy is to accelerate the net zero journey of its customers by leading the sales, marketing, and distribution of low carbon energy solutions. On 30 June 2022, the Group announced the appointment of Dr. Fabian Ziegler as the new CEO of DCC Energy and he will commence his role on 1 November 2022.
Since the energy capital markets event, DCC Energy has completed a number of new bolt-on acquisitions, including the acquisition of Protech in the UK. Consistent with DCC Energy’s strategy, the acquisition of Protech adds further energy solutions capability for commercial customers in the UK, including the provision of a range of renewable heat and power solutions, maintenance and other services.
DCC has also completed a number of previously announced bolt-on acquisitions, including a further modest acquisition by DCC Healthcare in Germany and DCC Energy’s biogas investment in Denmark.
Date for Interim Results
DCC expects to announce its interim results for the six months ending 30 September 2022 on Tuesday 8 November 2022.
