DCC set to land €23m damages boost

MARKETING and distribution specialist DCC took a step closer to landing a €23 million windfall yesterday when a court in Taiwan ordered a local company to hand over damages awarded last year by a British judge.

But analysts warned shareholders not to hold their breath and predicted further delays before DCC gets its hands on the money, which is the equivalent of around 25c per DCC share.

DCC told the stock exchange yesterday that it had been successful in convincing the Taiwanese court to enforce the damages and costs awarded to it in relation to a contract dispute with Pihsiang Machinery, which once supplied DCC with motorised scooters and similar products.