13 July 2023
AGM Trading Statement
DCC plc, the leading international sales, marketing and support services group, is issuing this update in advance of the Company's AGM to be held at 2.00 p.m. BST today.
First quarter ended 30 June 2023
Group operating profit in line with expectations
In the seasonally less significant first quarter of the year, Group operating profit was in line with expectations and modestly ahead of the prior year. DCC Energy recorded strong growth, driven by the performance of the Energy Solutions business. Due to the continuing difficult market conditions, as expected, operating profit was behind the prior year in both DCC Technology and DCC Healthcare. In DCC Healthcare the operating profit decline was driven by customer de-stocking in DCC Health & Beauty Solutions. DCC Vital recorded good growth. The Group remains active from an acquisition perspective, with a good pipeline of development opportunities.
Outlook
Notwithstanding the uncertain economic environment, DCC continues to expect that the year ending 31 March 2024 will be another year of operating profit growth and continued development activity.
Chief Executive update
Following DCC's announcement of 9 May 2023, Donal Murphy, Chief Executive, made a full return to work during the first half of June.
Sustainability Report
DCC recently published its third standalone Annual Sustainability Report which highlights the significant progress the Group has made over the last year. The report is available on our website at www.dcc.ie.
Date for Interim Results
DCC expects to announce its interim results for the six months ending 30 September 2023 on Tuesday 14 November 2023.
Contact information
| Investor enquiries:
| |
| Kevin Lucey, Chief Financial Officer | Tel: +353 1 2799 400 |
| Rossa White, Head of Group Investor Relations | Email: investorrelations@dcc.ie |
| Media enquiries: | |
| Powerscourt (Eavan Gannon/Genevieve Ryan) | Tel: +44 20 7250 1446 |
| | Email: DCC@powerscourt-group.com |
About DCC plc
DCC is a leading international sales, marketing and support services group. We provide solutions the world needs across three transformative sectors: energy, healthcare and technology; where we acquire, improve and grow diverse businesses. We bring our growth mindset to our businesses in 22 countries across four continents, empowering our 16,000 employees to create long term value - for our shareholders, customers, society and the planet.
Headquartered in Dublin, DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In our financial year ended 31 March 2023, DCC generated revenues of £22.2 billion and adjusted operating profit of £655.7 million. DCC has an excellent record, delivering compound annual growth of 14% in adjusted operating profit and generating an average return on capital employed of approximately 19% over 29 years as a public company.
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Forward-looking statements
This announcement contains some forward-looking statements that represent DCC's expectations for its business, based on current expectations about future events, which by their nature involve risk and uncertainty. DCC believes that its expectations and assumptions with respect to these forward-looking statements are reasonable, however because they involve risk and uncertainty as to future circumstances, which are in many cases beyond DCC's control, actual results or performance may differ materially from those expressed in or implied by such forward-looking statements.
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