DCC H1 revenue and operating profits rise
DCC (CDI)
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16:44 05/07/24
Sales and marketing firm DCC posted improved interim revenue and operating profits on Tuesday thanks to "strong growth" in its "seasonally less significant" first half.
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DCC said interim revenues had surged 44.1% to £10.83bn, while adjusted operating profits rose 11.9% to £221.2m and adjusted earnings per share were 6.7% higher at 146.4p.
In its energy unit, DCC said operating profits were up 11.9% at £132.5m, while operating profits in its technology division shot up 52.7% to £45.5m. DCC's healthcare unit, on the other hand, reported a 16% drop in interim adjusted operating profits to £43.2m.
DCC also hiked its interim dividend by 7.5% to 60.04p per share amid a "very good performance" amid "ongoing challenges" in global commodity prices and the current macroeconomic environment.
Chief executive Donal Murphy said: "DCC reported strong growth in the seasonally less significant first half of our financial year. The group continued to perform well in a volatile and challenging environment, reflecting our resilient business model and strong market positions."
Reporting by Iain Gilbert at Sharecast.com