Cold snap to boost DCC profits
Distribution specialist DCC has said its profit this year will be better than previously expected thanks to strong performance at its fuel and energy business which has been boosted by freezing weather in Ireland and the UK.
In a statement to the stock exchange this morning DCC said it has enjoyed an excellent start to the year and predicts its earnings for the financial year ending in March will be ahead of last year.
The company now expects that, on a constant currency basis, both operating profit and adjusted earnings per share for the year to March 31, 2010 will be in the range of 5% to 10% ahead of the prior year.
However the weaker sterling/euro exchange rate is likely to result in both operating profit and adjusted earnings per share being modestly ahead of the prior year on a reported basis.
DCC expects to announce its preliminary results for the year on May 18.
