DCC development opportunities

According to DCC plc’s interim management statement, its energy division is trading ‘significantly ahead of both the prior year and budget’.

Backed by an encouraging performance in the first quarter of 2013, due to colder than normal weather conditions which drove up demand for kerosene and LPG, DCC now expects operating profits to be 15%, 3% ahead of last year.

According to Investors Intelligence, DCC ‘has experienced some impressive growth figures since the beginning of last year, ranging from a share price of 1467p to a 52-week high figure of 2725p’. “We can expect the uptrend demonstrated by DCC to continue with signals that further deals could be on the cards.”

During the first quarter, DCC Energy completed the planned integration of the former BP LPG business in Britain with DCC’s existing LPG distribution business and of the former Total oil distribution business in Britain with its existing oil distribution business.

The Interim Management Statement released last Friday also stated that ‘the group remains in a very strong financial position to pursue a range of development opportunities.’

The group also operates in the IT, healthcare, environmental services and food & beverage sectors,

www.dcc.ie

 

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