Weak exchange rate fails to dampen Q1 performance

THE weak exchange rate between the euro and sterling hasn’t hampered DCC’s performance to date in its current financial year, even though an impact is likely to be felt in the second half.

The group said in its latest interim management statement, issued yesterday, that it had “an excellent first quarter” over the three months to the end of June, with earnings “significantly ahead of both last year and budget“.

DCC’s financial year runs to the end of March, with most of its annual profits generated in the second half of the year. As much as 60% of group profits are generated from its operations in the British market and in its last financial year, 70% of overall profits came in the more lucrative second six months.