DCC Group trades 'very well' in Q1
Sales and marketing firm DCC Group said on Friday that it had "traded very well" in the "seasonally less significant" first quarter of its financial year, building on the firm's strong performance in the year ended 31 March.
DCC stated that operating profit growth was "well ahead" of the prior year and also modestly ahead of expectations, driven by "very strong organic profit growth" in its DCC Healthcare and DCC Technology units.
The FTSE 100-listed firm said its DCC LPG wing delivered "good operating profit growth" in the first quarter, as did the company's DCC Retail & Oil division, thanks to the gradual re-opening of economies leading to volume growth with transport and commercial customers.
"DCC expects that the year ending 31 March 2022 will be another year of strong operating profit growth and continued development activity," said the group.
Elsewhere, chairman John Moloney will stand down from DCC's board following the company's annual general meeting, held on Friday, with non-executive director Mark Breuer set to take over the role with immediate effect.
As of 0815 BST, DCC shares were up 1.43% at 5,974.0p.