DCC upgrades full-year guidance

DCC has marginally upgraded its full-year guidance on the back of a strong set of first-half figures and a slightly more favourable foreign exchange environment.

The Dublin-headquartered support services and distribution giant yesterday reported a strong set of figures for the six months to the end of September, comfortably ahead of most analysts’ expectations.

While a 9% increase in operating profit and a 7% jump in earnings per share were anticipated by the markets, the group managed a 20% jump in operating profit to €67.9 million and a 15.1% rise in adjusted earnings per share to 57.65c. Pre-tax profit rose 17.6% to €60.4m and revenue was up over 41% at €3.96 billion.