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DCC Plc H1 Pretax Profit Declines; Revenue Down 1.4% - Quick Facts

DCC plc (DCC.L) reported pretax profit of 57.6 million pounds for the six months ended 30 September 2019 compared to 85.9 million pounds, prior year. Earnings per share was 38.26 pence compared to 76.02 pence. Group adjusted operating profit increased by 14.5 percent to 162.6 million pounds (13.7 percent ahead on a constant currency basis). Adjusted earnings per share was 109.99 pence compared to 106.87 pence.

First-half Group revenue decreased by 1.4 percent (1.7 percent decrease on a constant currency basis) to 7.3 billion pounds. DCC LPG sold 798,500 tonnes in the first half of the year, an increase of 7.7 percent on the prior year (7.1 percent on a like-for-like basis). DCC Retail & Oil sold 5.93 billion litres of product in the first half, a 3.8 percent decline versus the prior year (4.9 percent on a like-for-like basis).

The Board has decided to pay an interim dividend of 49.48 pence per share, which represents a 10 percent increase on the prior year. This dividend will be paid on 11 December 2019 to shareholders on the register at the close of business on 22 November 2019.

Separately, DCC plc announced that DCC Health & Beauty Solutions has acquired Ion Laboratories, Inc, a provider of contract manufacturing and related services to the growing health supplements and nutritional products market in the US. The Group said the consideration was based on an enterprise value of approximately 46 million pounds.

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