DCC trading statement positive

DCC share forecasts were upgraded yesterday after the firm issued a very positive trading statement.

Davy analyst Florence O’Donoghue said that the positive news from DCC in recent days prompted Davy to revise its forecasts upwards for the year to the end of March 2005.

“Firstly, there was the group’s acquisition of Bottle Green, which marks its entry into the UK wine market. Secondly, there was the positive AGM trading update. The stock has enjoyed a decent run since its results in May, although it has only performed in line with the Irish market over the last 12 months.