DCC should bide its time
ALMOST 12 months ago DCC chairman Michael Buckley told shareholders that the company was "actively considering" moving its primary listing to London. Given the performance of the companies that have made the London switch, DCC should bide its time.
Over the past year, two major Irish companies have made the switch. In November, CRH moved its primary listing to London while Greencore went a step further, changing its reporting currency to sterling and abandoning the Dublin market altogether.
But... the CRH share price of €14.89 is right back where it started a year ago while the Greencore share price of 75p is 7p higher. Over the same period, the DCC share price has fallen eight per cent to €18.76.
Grass isn't always greener on the other side.
Sunday Indo Business