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DCC reiterates full-year guidance after solid start to current fiscal year

The FTSE 100-listed group reiterated its belief that the year ending 31 March 2020 will be another year of profit growth and development
Sales pipeline
DCC's profits are significantly weighted towards the second half of its financial year

Sales and marketing support group DCC PLC (LON:DCC) traded in line with expectations in the April-June quarter.

Ahead of its annual general meeting this morning, the FTSE 100-listed company released a trading statement in which it reiterated full-year guidance for operating profit.

The Ireland-based firm said it generated good growth in operating profit in the quarter just ended – the first of the company’s financial year – driven by acquisitions in the previous fiscal year.

The DCC Vital rdivision recently entered into an agreement to dispose of its UK generic pharma activities and related manufacturing facility in Ireland (Kent Pharma and Athlone Laboratories), subject to regulatory and other consents.

DCC said the disposal will sharpen the strategic focus of DCC Vital, allowing it to concentrate on those areas where it has market leading positions and sustainable competitive advantage, in particular in the sales, marketing and distribution of medical products in Britain and Ireland.

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