DCC achieves strong Q3 growth

Date: Tuesday 02 Feb 2010

Irish distributor DCC said it achieved strong revenue and operating profit growth, on a constant currency basis, in its third quarter to 31 December 2009.

The group, which transport fuels and heating oils to domestic, commercial, agricultural and industrial customers, said its full year outlook has improved from that set out in November 2009 after it enjoyed favourable weather conditions in January.

DCC now expects that, on a constant currency basis, both operating profit and adjusted earnings per share for the year to 31 March 2010 will be in the range of 5% to 10% ahead of the prior year.

Volumes in DCC Energy, DCC's largest division, were modestly ahead of the prior year, with a cold end to the quarter offsetting a mild start.

Trading in SerCom Distribution was stronger than expected, driven by the excellent performance of its British based businesses.

Meanwhile operating profit in each of DCC's other three divisions was ahead of the prior year with particularly strong recoveries in operating profit in DCC Healthcare and DCC Environmental.

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