Saturday 18 November 2017

DCC on track for strong earnings

Reduced sales of smartphone products affected DCC
Reduced sales of smartphone products affected DCC
John Mulligan

John Mulligan

Distribution group DCC has confirmed its guidance for strong earnings growth in the current financial year after a first-quarter performance that was in line with expectations.

The group, which is also active across sales, marketing and business support services, said that its energy, healthcare and environmental units generated "strong growth" in the three months to the end of June.

However, it said that performance was somewhat offset by a weaker performance from its technology unit, which was behind budget and the performance in the first quarter of the previous financial year.

DCC blamed that performance on a weak tablet market as well as reduced sales of mobile computing and smartphone products.

Its energy unit - it's the largest supplier of home heating oil in the UK - was ahead of budget and ahead of the prior year's performance.

DCC also owns a string of petrol stations in France and Sweden.

Last month, DCC completed the acquisition of the Esso Express unmanned petrol station network in France.

In May, DCC also announced that's it's buying an LPG business in France from Shell.

Irish Independent

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