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DCC says first quarter growth has been strong

Donal Murphy, chief executive of DCC
Donal Murphy, chief executive of DCC

DCC has reported strong growth for the first quarter of its financial year.

The sales, marketing and support services group said operating profit was in line with expectations and well ahead of the prior year.

This was driven by strong growth in DCC Energy, it said in a trading update issued in advance of today's AGM.

"DCC Healthcare traded robustly and in line with expectations," it said.

"DCC Technology recorded strong growth, benefitting from the first-time contribution of the acquisition of Almo."

The London listed company said it expects that the year ending March 2023 will be another one of profit, growth and development, despite the challenging environment.

The group, which operates across energy, healthcare and technology, and employs over 15,400 people, also highlighted the release recently of its second standalone sustainability report.

"The report highlights how the Group creates sustainable value for its stakeholders and demonstrates how the Group is progressing against its sustainability objectives," it said.

It also highlighted the appointment at the end of June of Dr Fabian Ziegler as the new CEO of DCC Energy.

That division has completed a number of new bolt-on acquisitions, including of Protech in the UK.

The company will announce interim results on November 8.