DCC Energy sees pre-tax profits fall on back of mild spring
Published 08/11/2011 | 11:14
OPERATING profits at DCC for the six months to the end of September was affected by the impact of the very mild weather in April and May.
This had a negative effect on its largest division, DCC Energy.
Operating profits for the six month period fell by 14.2pc to €58.3m, while pre-tax profits dropped by 17.3pc to €50m. Revenues rose by 10.8pc to €4.395bn.
Profits at its energy division fell by 35pc.
The group's other four divisions traded ahead or in line with the previous year, the company said.
''The outlook for the full year to March 2012 is framed against this background and is based on the important assumption that the overall weather pattern for the second half will be that of a normal winter compared to the extremely cold winter in the prior year,' said CEO Tommy Breen.
''DCC now believes that operating profits and adjusted earnings per share, both on a constant currency basis, will be approximately 5pc behind the prior year.''