DCC Says 1Q Performance Was Ahead of Its Expectations

By Jaime Llinares Taboada

DCC PLC said Friday that its performance for the first quarter of the fiscal year was ahead of its own expectations, although behind a year earlier due to the coronavirus-related lockdowns.

The sales, marketing and support-services group said its performance in the three months ended June 30 had been resilient despite the pandemic challenges, although this is a relatively quieter period for the company.

DCC said its LPG business's operating profit was significantly below the previous year. The retail & oil division had lower volumes but a small increase in operating profit. The technology unit reported lower operating profit on reduced business-to-business demand. However, the performance of the healthcare, health & beauty solutions, and vital businesses was reported as strong.

"The improving performance through the quarter has meant we have recommenced selective organic development capital expenditure to ensure we are in a position to capture any opportunity for market share gains during this period," Chief Executive Donal Murphy said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

July 17, 2020 02:35 ET (06:35 GMT)

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