DCC share price slip despite strong first half

Shares in DCC slipped by as much as 3% yesterday despite the group posting strong annual earnings for 2016 and forecasting further good growth this year.

The Dublin-based support services group reported a 9% rise in revenues to just under £3.2bn (€3.7bn), for the 12 months to the end of March, and a 21% rise in total operating profit — before exceptional items — to £363.6m.

Excluding the environmental services division — the agreed disposal of which was announced last month — group operating profit was still 20.9% ahead at £345m. Adjusted earnings per share closed the year at 303.7p, 18.1% up on the previous 12 months.