DCC trading shows good growth in third quarter

Diversified energy and services group DCC said it delivered a good trading performance in the third quarter of its financial year, despite a more difficult economic environment.

Milder weather during the quarter ended December 31st 2019 also proved a challenge for the company.

Group operating profit for the period was in line with expectations, DCC said.

DCC LPG showed good organic profit growth, with figures also lifted by the acquisition earlier in the year of Pacific Coast Energy. DCC Retail & Oil, meanwhile, was in line with expectations, with the division’s retail activities putting in a good performance.

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The first half of the year saw the disposal of DCC Healthcare’s UK generic pharma business, with the remainder of the business delivering good like-for-like profit growth. DCC also completed the acquisition of Ion Labs during the quarter.

General weakness in the UK’s technology market hit DCC Technology UK’s business, with the rest of the division recording good growth.

Looking ahead to the rest of the year, DCC said the year ended March 31st 2020 will show good growth in operating profit, in line with current market consensus expectations.