DCC has reported an 11% fall in pre-tax profits to €31.2m for the six months ended 30 September 2003.
Sales from continuing activities were €975.1m in the period, a decrease of 4.1% on the same period a year earlier.
Operating profit from continuing activities grew by 3.4% to €41.2m - an underlying increase of 5.6% when adjusted for the impact of weaker sterling.
DCC said it achieved excellent growth in its energy business with operating profit up 29% to €13m following the successful integration of acquisitions completed in recent years.
DCC's IT distribution business, SerCom, recorded an operating profit of €11.6m, a decrease of 15%.
DCC's food business was impacted by the slowdown across the Irish grocery and food service sectors resulting in a 13.8% decrease in operating profit to €5m.
The firm's 49% owned associate company Manor Park Homebuilders saw operating profit growth of 40.2% to €6.1m driven by a significant increase in the number of completed house sales during the period which also saw the firm buy former Taoiseach Charlie Haughey's home in Kinsealy, north County Dublin.
DCC chief executive and deputy chairman Jim Flavin said: 'DCC's business is significantly second-half weighted and the Group expects good underlying growth in the second half although the reported rate of growth will be held back by the adverse impact of weaker sterling on the translation of UK profits.'
In a statement the firm said it expects good underlying growth in the secondhalf although the reported rate of growth will be held back by the adverse impact of weaker sterling on the translation of UK profits.
This evening DCC shares closed down 45 cent at €10.95.
