DCC H1 revenue and operating profits rise

8th Nov 2022 07:23

(Sharecast News) - Sales and marketing firm DCC posted improved interim revenue and operating profits on Tuesday thanks to "strong growth" in its "seasonally less significant" first half.

DCC said interim revenues had surged 44.1% to £10.83bn, while adjusted operating profits rose 11.9% to £221.2m and adjusted earnings per share were 6.7% higher at 146.4p.

In its energy unit, DCC said operating profits were up 11.9% at £132.5m, while operating profits in its technology division shot up 52.7% to £45.5m. DCC's healthcare unit, on the other hand, reported a 16% drop in interim adjusted operating profits to £43.2m.

DCC also hiked its interim dividend by 7.5% to 60.04p per share amid a "very good performance" amid "ongoing challenges" in global commodity prices and the current macroeconomic environment.

Chief executive Donal Murphy said: "DCC reported strong growth in the seasonally less significant first half of our financial year. The group continued to perform well in a volatile and challenging environment, reflecting our resilient business model and strong market positions."

Reporting by Iain Gilbert at Sharecast.com