Business Irish

Wednesday 26 October 2016

DCC reports "very strong" profit growth in third quarter

Published 11/02/2016 | 07:25

DCC boss Tommy Breen.
DCC boss Tommy Breen.

Irish conglomerate DCC said group operating profit was "very significantly ahead" of the previous year in the three months to the end of December.

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In a trading update issued this morning the company said it expects full-year operating profit and adjusted earnings per share to be very significantly ahead of the prior year and in line with market consensus. It did not provide specific numbers.

The company, which has energy, healthcare, environmental and technology businesses, said its acquisitions of bottled gas company Butagaz and Esso Retail France performed in line with or modestly ahead of expectations.

Profit grew in the energy division due to a good margin performance, while the healthcare business was also ahead of last year.

DCC said the technology business was hit by lower demand for tablet, smartphone, and gaming products.

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