DCC expects jump in profits

DCC has slightly upgraded its outlook for its current financial year, by saying it now expects operating profits to be up by 5% to 10% for the 12 months to the end of March.

That year-on-year profit jump marks a significant improvement on the group’s previous outlook in November. At that point DCC’s management said operating profits for the current year would be broadly in line with the €180.4m generated last year.

Yesterday’s trading update did warn that exchange rate volatility affecting the amount of the group’s profits which are measured in sterling would result in both operating profit and adjusted earnings per share being modestly ahead of the previous year, on a reported basis, when translated back into euro.