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DCC PLC on Tuesday reported declines in half-year profit and revenue, but said it expects profit growth for the full year in line with market expectations. Dublin-based DCC provides sales, marketing and distribution services to the energy sector. Pretax profit plummeted to £19.9 million in the six months that ended September 30 from £105.5 million a year prior. This was mainly due to an impairment of intangible assets and goodwill of £57.8 million, compared to none a year before. Net exceptional charge before tax more than doubled to £30.9 million from £12.9 million, further contributing to the profit decline. Revenue fell 7.1% to £7.38 billion in the first half from £7.95 billion a year ago. The revenue decline was driven by lower revenue in DCC Energy, which the company attributed to lower commodity prices and a decline in volumes. DCC said organic growth in Mobility and Energy Services helped to partly offset lower profits in Energy Products. Adjusted operating profit was £206.7 million, down 5.4% from £218.5 million. DCC said this resulted from strong prior year comparatives, the impact of mild weather in the early months of the year, and the disposal of its Hong Kong and Macau business in July 2024. Despite a decline in operating profit in the first quarter, trading improvements meant that there was ‘modest’ operating growth the second quarter, the company said. DCC completed the sale of DCC Technology’s Info Tech business in the UK and Ireland at the start of November, as well as the sale of DCC Healthcare in September. The company intends to reach agreement for the sale of its remaining Technology business by the end of 2026. The company declared an interim dividend of 69.50 pence per share, a 5.0% increase on the prior year interim dividend of 66.19p. DCC said it expects ‘a year of good operating profit growth on a continuing basis, significant strategic progress and ongoing development activity’ for financial 2026. Chief Executive Donal Murphy said: ‘It has been a period of significant strategic progress. We completed the sale of our Healthcare business, the sale of our Info Tech business, and our £100 million share buyback programme. We expanded our liquid gas activities in Europe, a priority for growth where we have a good pipeline of further development opportunities. ‘We continue to expect good profit growth for the full year in line with market expectations, demonstrating our resilient business model. We are excited about our growth opportunities as a simpler, stronger DCC Energy. We’re on track to deliver our 2030 ambition.’ Shares in DCC were up 0.3% to 4,788.00p a share on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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