DCC PLC Interim Management Statement (2637E)
July 15 2016 - 2:00AM
UK Regulatory
TIDMDCC
RNS Number : 2637E
DCC PLC
15 July 2016
15 July 2016
DCC plc
Interim Management Statement
DCC Reports Strong Growth in First Quarter Operating Profit
DCC plc, the international sales, marketing, distribution and
business support services group, is issuing this Interim Management
Statement in advance of the Company's AGM to be held in Dublin at
11.00 am today.
First Quarter ended 30 June 2016
Overall Group operating profit for the first quarter ended 30
June 2016 was significantly ahead of the prior year and modestly
ahead of expectations, driven by the performance of DCC Energy
which benefitted from acquisitions completed during the prior year
and also from strong organic operating profit growth.
Trading in each of DCC Healthcare, DCC Technology and DCC
Environmental was ahead of the prior year and in line with
expectations. DCC Technology benefitted from cost saving
initiatives implemented in the prior year and the first time
contribution from the acquisition of CUC.
Year to 31 March 2017
DCC's profits are significantly weighted towards the second half
of its financial year. At what is still a very early stage in the
financial year, the Group reiterates its belief that the year
ending 31 March 2017 will be another year of profit growth and
development.
The UK's decision in the recent referendum to leave the EU is
not expected to have any material direct impact on DCC's business
as the Group has relatively little cross-border trade. Presently
almost 50% of the Group's operating profits are generated outside
of the UK and so the Group's reported operating profit would
benefit modestly from favourable translation should sterling remain
at current values, or depreciate further.
As previously announced on 23 March 2016, DCC Energy has agreed
to acquire Dansk Fuels, a retail, aviation and commercial fuels
business in Denmark, formerly owned by Shell. The proposed
acquisition is proceeding in line with expectations and recently
received clearance from the EU Commission. The acquisition is
expected to complete in the second half of calendar 2016.
DCC remains ambitious to continue the growth and development of
its business. DCC's strong equity base, together with a strong and
liquid balance sheet, leaves it well placed to continue the growth
of its business in existing and new geographies.
Date for Interim Results
DCC expects to announce its interim results for the six months
to 30 September 2016 on Monday 14 November 2016.
For reference:
Tommy Breen, Chief Executive
Fergal O'Dwyer, Chief Financial Officer
Kevin Lucey, Head of Group Finance & Investor Relations
Telephone: +353 1 2799 400
Email: investorrelations@dcc.ie
Web: www.dcc.ie
Forward-looking statements
This announcement contains some forward-looking statements that
represent DCC's expectations for its business, based on current
expectations about future events, which by their nature involve
risk and uncertainty. DCC believes that its expectations and
assumptions with respect to these forward-looking statements are
reasonable, however because they involve risk and uncertainty as to
future circumstances, which are in many cases beyond DCC's control,
actual results or performance may differ materially from those
expressed in or implied by such forward-looking statements.
About DCC plc
DCC plc is an international sales, marketing, distribution and
business support services group headquartered in Dublin with
operations in Britain, Continental Europe and Ireland. DCC has four
divisions - DCC Energy, DCC Healthcare, DCC Technology and DCC
Environmental. In its last financial year ended 31 March 2016, DCC
generated revenue of GBP10.6 billion and operating profit of GBP300
million and currently employs approximately 10,500 people in 15
countries. DCC's shares are listed on the London Stock Exchange and
are included in the FTSE All-Share Index and the FTSE 100 Index
under Support Services.
This information is provided by RNS
The company news service from the London Stock Exchange
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