DCC reports Q3 operating profit 'modestly ahead'

(Sharecast News) - International sales, marketing and support services group DCC said third-quarter operating profit was "modestly ahead" of the prior year, despite a volatile economic environment. The company on Wednesday said its energy division "delivered good operating profit growth, driven by the performance of Energy Solutions, despite mild weather conditions in most regions during the third quarter of the financial year".

Operating profit declined in both Healthcare and Technology, although the rate of decline improved relative to the first half of the year.

In healthcare, health & beauty saw improved market conditions, but still subdued relative to historic growth rates. DCC Technology continued to experience difficult trading conditions in the consumer technology sector.

"DCC continues to expect that the year ending 31 March 2024 will be another year of operating profit growth in line with expectations, and continued development activity," the company said.

Reporting by Frank Prenesti for Sharecast.com