DCC admits switch to sterling is a ‘live issue’

THE board of DCC has admitted that the question of switching the group’s main reporting currency to sterling is “a live issue” and something which it is monitoring closely.

Addressing shareholders at the group’s annual general meeting at Dublin’s Four Seasons Hotel yesterday, chairman Michael Buckley said that while neither the switch from euro to sterling or, indeed, making DCC’s London share listing its primary placing is about to happen, it is “a live issue for the board” and “something we’re monitoring pretty actively at the moment”.

Currently, just over 70% of DCC’s total profits come from its British operations, with 15% generated from Ireland and 13% from mainland Europe.