DCC profit to drop by 5%

FULL-YEAR operating profits and earnings per share at support services giant DCC are expected to be 5% down — on a constant currency basis — on last year.

The group’s management gave this outlook yesterday, on the back of a chequered set of first-half figures.

For the six months to the end of September, DCC’s profits before tax and exceptional items were down by 14.4% year-on-year, on a constant currency basis at €50 million. Operating profits, by the same measure, were down by 11.4% — or €7.7m — to €58.3m and adjusted earnings per share fell by 14.7% to 47.53c.