DCC PLC, a leading international sales, marketing, and support services group, has issued an update ahead of its AGM. In the first quarter ending 30 June 2024, the company experienced continued growth and development activity. Group operating profit was modestly ahead of the prior year, with DCC Energy recording good growth driven by acquisitions completed in the current and prior year. DCC Healthcare also saw modest growth, while DCC Technology's operating profit was slightly behind the prior year.
The company expects the year ending 31 March 2025 to be a year of strong operating profit growth and continued development activity. DCC has committed approximately £65 million to new acquisitions since the Final Results announcement in May 2024. Notably, DCC Energy completed the acquisition of WIRSOL Roof Solutions in Germany, providing a platform to develop Energy Management Services in the German energy market. Additionally, DCC Energy agreed to acquire Cubo, a fleet telematics business in the UK & Ireland.
DCC Energy has completed the sale of a majority stake in its liquid gas business in Hong Kong & Macau to CITADEL Pacific Ltd, receiving US$105 million in cash consideration and retaining a minority stake in the combined business. The company also established a Euro Medium Term Note (EMTN) programme and issued its inaugural public market debt instrument, a benchmark €500 million seven-year senior unsecured bond, refinancing recently repaid and short-term maturity private placement debt.
DCC expects to announce its interim results for the six months ending 30 September 2024 on Tuesday 12 November 2024. DCC plc, headquartered in Dublin and listed on the London Stock Exchange, operates in 22 countries across four continents, with 16,600 employees. In the financial year ended 31 March 2024, DCC generated revenues of £19.9 billion and adjusted operating profit of £682.8 million.