DCC ups guidance after ‘strong start’

DCC has significantly upped its earnings guidance for its current financial year, on the back of what management has called a strong start to the period.

The Dublin-headquartered support services giant said yesterday — via a trading update coinciding with its AGM — overall group trading for its first quarter, the three months to the end of June, was “well ahead” of both the prior year’s comparison and group budget.

While noting that due, mainly to the seasonal nature of trading for both the DCC Energy and DCC SerCom divisions, the first half usually represents less than 15% of overall group annual profit; the group said “it is pleasing that DCC has traded well ahead of its expectations in the first quarter”.