DCC delivers 'very strong' FY revenue and adjusted operating profit growth

By Iain Gilbert

Date: Tuesday 17 May 2022

DCC delivers 'very strong' FY revenue and adjusted operating profit growth

(Sharecast News) - Sales and marketing firm DCC Group reported "very strong" full-year revenues and adjusted operating profit growth that came in ahead of market expectations.
DCC said revenues had shot up 32.2% year-on-year to £17.73bn, driven by higher energy commodity prices and also by the recovery in energy volumes across both its LPG and retail and oil units.

The AIM-listed group stated adjusted operating profits had group 11.1% to £589.2m. On a constant currency basis, adjusted operating profits were up 15.1%, with organic profit growth making up 6.1% and acquisition growth accounting for 9%. Adjusted earnings per share rose from 386.6p to 430.1p.

DCC also proposed an 11.2% increase in its final dividend payment for the year ended 31 March, bringing about a 10% increase in the total dividend for the year and marking the group's 28th consecutive year of dividend growth.

DCC also highlighted that it had witnessed continued momentum in acquisition activity during the year, with roughly £600.0m committed in the period, including Almo - its largest acquisition to date.

Looking forward, DCC expects the current trading year will mark "another year of profit growth and development" but said it was also aware of "the challenging macro environment" at present.

Chief executive Donal Murphy said: "I am very pleased that DCC has delivered an excellent performance in a challenging macro environment, with profit growth across each of our divisions, again demonstrating the resilience of our business.

"We are ambitious to build DCC into a global leader in our chosen sectors. We have the platforms, opportunities, and capability to do so. Although the world is experiencing a particularly volatile period and supply chain disruption is elevated, DCC is well positioned to grow and develop with momentum."

Reporting by Iain Gilbert at Sharecast.com


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