DCC issues second profit warning

FULL-YEAR operating profits at support services giant DCC are expected to come in at between €175 million and €190m, considerably down on previous estimates.

In its interim management statement issued yesterday, the group blamed the war-mer than usual conditions across Europe for its second profit warning in as many months. DCC published a mixed set of first-half financial results in November, in which the group said it expected operating profits and earnings per share for the year to the end of March, to be down 5% on the previous 12 months.

DCC generated operating profits of less than €230m in the 12 months to the end of March 2011. Such an anticipated decline would have resulted in profits for the year of about €218m.