DCC expects profits to rise by 5%

DCC has said that first quarter trading levels across all of its divisions were up on a year-on-year basis and that full-year operating profits should still increase by around 5%.

Management told shareholders at the group’s annual general meeting in Dublin, yesterday, that group performance during its first quarter – the three months to the end of June – had been “modestly ahead of expectations” and that each of the group’s five divisions (healthcare, environmental, energy, food/beverages and IT distribution) “traded ahead of, or in line with, the same period in the prior year”.

The group’s interim management statement, published in conjunction with yesterday’s AGM, added management’s thoughts that the early showing for the year was “encouraging”.