DCC announces better-than-expected Q1 results

DCC plc, the procurement, sales, marketing, distribution and business support services group, have announced their operating profit for their first quarter to June 30, 2009 was ahead of budget.

But, as anticipated, it was behind the first quarter of last year.

The group’s outlook for the year to March 31, 2010, remains unchanged from that set out in DCC’s Preliminary Announcement on May 19, 2009.

As stated at that time, while the first half of the group’s financial year is seasonally much less significant (33.6% of operating profit last year), results for this period compared to the first half of the prior year will be challenged by the impact of the marked economic slowdown which particularly affected some of the group’s businesses in the second half of last year.

For the full year to March 31, 2010, the group continues to expect that operating profit will be modestly behind to broadly in line with last year.