DCC strikes positive note as first-half results beat expectations

DCC has become slightly more upbeat regarding its full-year outlook on the back of a better-than-expected first-half showing.

Where previous guidance was for full-year operating profits (up to the end of March) to be slightly down on the previous year, the multi-disciplined business support services group said yesterday, that profits (on a constant currency basis) now should be broadly in line with last year, representing a modest improvement in outlook. Management stressed however, that given the state of the sterling/euro exchange rate, it would still see full-year earnings per share being 5%-10% down on a like-for-like basis.

The slightly revised outlook comes on the back of DCC’s latest set of interim results, for the six months to the end of September.