€140 million wiped off value of DCC

SHARES in DCC plunged almost 10% yesterday after the company said its first half earnings will be lower because of falling profits at its IT division.

The fall wiped €140 million off value of DCC group as it warned earnings in the six months to end September would be 10% lower than a year ago.

The company blamed the poor performance on its IT division, which distributes computer hardware and software across Europe and accounts for 21% of the overall profits.