DCC Q3 operating profits rise YOY

8th Feb 2023 07:28

(Sharecast News) - Sales and marketing firm DCC said on Wednesday that third-quarter group operating profits were in line with expectations and ahead of the prior year.

DCC said it had delivered "a good performance" given the "challenging macro environment", with DCC Energy delivering solid operating profit growth in both its mobility and solutions units, notwithstanding the weather conditions being milder than average during the quarter.

Operating profits declined in its healthcare business, where DCC health and beauty solutions saw "reduced demand" as customers continued to reduce their inventory levels.

The FTSE 100-listed group added that this offset the "strong growth" delivered by its DCC Vital subsidiary. DCC Technology delivered "good operating profit growth", in line with expectations, driven by a solid performance in North America.

Reporting by Iain Gilbert at Sharecast.com