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 at 2.00 p.m. BST today.
First quarter ended 30 June 2023
Group operating profit in line with expectations
In the seasonally less significant first quarter of the year, Group operating profit was in line with expectations and modestly ahead of the prior year. DCC Energy recorded strong growth, driven by the performance of the Energy Solutions business. Due to the continuing difficult market conditions, as expected, operating profit was behind the prior year in both DCC Technology and DCC Healthcare. In DCC Healthcare the operating profit decline was driven by customer de-stocking in DCC Health & Beauty Solutions. DCC Vital recorded good growth. The Group remains active from an acquisition perspective, with a good pipeline of development opportunities.
Outlook
Notwithstanding the uncertain economic environment, DCC continues to expect that the year ending 31 March 2024 will be another year of operating profit growth and continued development activity.
Chief Executive update
Following DCC’s announcement of 9 May 2023, Donal Murphy, Chief Executive, made a full return to work during the first half of June.
Sustainability Report
DCC recently published its third standalone Annual Sustainability Report which highlights the significant progress the Group has made over the last year. The report is available on our website at www.dcc.ie.
Date for Interim Results
DCC expects to announce its interim results for the six months ending 30 September 2023 on Tuesday 14 November 2023.
