DCC Says 1Q Performance Was Ahead of Its Expectations
17 July 2020 - 4:50PM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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