Dublin headquartered support service provider DCC has today reported a 10.6% fall in annual revenues on the back of the lower cost of energy for its DCC Energy division.
DCC said its revenue for the year to the end of March fell to £19.859 billion from £22.205 billion the previous year.
Its adjusted operating profits rose by 4.1% to £682.8m £655.7m, driven by very strong growth in DCC Energy while DCC Healthcare returned to organic growth in the second half of the year.
The company has proposed a 5% increase in its annual dividend, raising it to 196.57 pence.
It said today that it expects the year ending 31 March 2025 will be a year of strong operating profit growth and continued development activity.
DCC sells LPG, operates service stations and electric vehicle fast-charging networks and distributes medical and electronic products. Its brands include Certa, Flogas, Certas Energy and Fannin.
Donal Murphy, DCC's chief executive, said DCC delivered a year of growth, development and strategic progress in its 30th year as a public company.
"The very strong growth delivered by DCC Energy was the highlight of the year, and it is also encouraging that DCC Healthcare returned to organic growth in the second half of the year," the CEO said.
"We are executing our "Cleaner Energy in Your Power" strategy in DCC Energy and have real momentum as we build the offerings that enable customers to make cleaner energy choices," he stated.
"As we reflect on three decades of growth, we're excited about what lies ahead: the growing need for cleaner energy, lifelong health and progressive technology," the CEO added.
Meanwhile, DCC today announced a deal to buy Next Energy, which it said will materially enhance DCC Energy's energy transition capability in the domestic sector in the UK.
Breaking down its divisions, the company said that revenues at its DCC Energy unit fell by 11.8% to £14.2 billion, while operating profits rose by 9.9% to £503.0m from £457.8m.
The company said it sold a total of 15.2 billion litres of fuel, down 2.2% on the previous year.
Its DCC Healthcare business recorded revenues of £859.4m for the year to the end of March, up 4.6% on the previous year and was driven by the acquisition of Medi‐Globe, which it completed in September 2023.
But the division's operating profits for the year dipped by 4% to £88.1m from £91.8m. The company noted that DCC Healthcare returned to organic profit growth in the second half of the financial year, following a challenging first half.
Revenues in DCC Technology dropped by 9.3% to £4.774 billion from £5.264 billion, while the division's operating profits fell by 13.6% to £91.7m from £106.1m the previous year due to ongoing trend of lower market demand for technology products.
