DCC records 14.2% fall in profits

Irish industrial holding company DCC said today operating profits for the six months to the end of September fell by 14.2 per cent to €58.3 million.

Despite seeing revenues rise by 10.8 per cent to €4.4 billion, the company recorded a 17.3 per cent fall in pre-tax profit to €50 million.

The company said the performance of its largest division, DCC Energy, was hit by the exceptionally mild weather in April and May.

Profits at DCC Energy fell by 35.1 per cent to €18.1 million during the six-month period.

The group’s four other main divisions saw profits rise during the same period.

The company’s board said it had decided to pay an interim dividend of 27.42 cent per share, a 5 per cent increase on last year.

In terms of its outlook for the second half of the year – up to the end of March, the company said the economic environment “remains challenging and has become increasingly uncertain”.