Support services group DCC has said that its overall group operating profit for the first quarter to the end of June was significantly ahead of the previous year and modestly ahead of expectations.
The company issued a trading statement ahead of its AGM in Dublin today.
DCC said the rise in operating profits was driven by the performance of its Energy division which benefitted from acquisitions completed during the previous year and also from strong organic operating profit growth.
The company noted that trading in each of DCC Healthcare, DCC Technology and DCC Environmental was ahead of last year and was in line with expectations.
It added that DCC Technology benefitted from cost saving initiatives implemented last year and the first time contribution from the acquisition of CUC.
DCC said that the recent Brexit decision in the UK is not expected to have any material direct impact on its business as it has relatively little cross-border trade.
Almost 50% of DCC's operating profits are generated outside of the UK and so its reported operating profit would benefit modestly from favourable translation should sterling remain at current values, or depreciate further, the company added.
