Ireland's DCC logs rise in annual profit on robust energy demand (updated)
19/05/2026 07:44
Adds details, context and background throughout May 19 (Reuters) - Irish energy distributor DCC DCC.L reported a 2.8% rise in annual profit on Tuesday, helped by demand for fuels, gas and solar energy solutions that have spiked since the Middle East war, and the company streamlining its operations. DCC's board, on April 30, rejected a 4.95 billion pound ($6.64 billion) cash proposal from a consortium of U.S. private equity firms, Energy Capital Partners and KKR, arguing that it "fundamentally undervalues the company and its future prospects". Here are some details from the results: DCC said it was on track to become a pure-play energy firm by the end of 2026 and will rename itself as DCC Energy after its annual general meeting in July to reflect its refocused nature. The company said it is on track to reach an "agreement" regarding its Technology unit, without clarifying whether it plans to spin off or sell it. The company reported adjusted operating profit of 634 million pounds on a continuing basis for the year ended March 31, up from 612.1 million pounds reported in the previous year. It retained its 2028 outlook of achieving 830 million pounds in profit, double from its 2022 levels. Within its energy division, it said the war in the oil-rich Middle East had driven overall demand for its services and products higher towards the end of the year ended March 31, more than offsetting a weaker UK & Ireland market. ($1 = 0.7459 pounds) (Reporting by Prerna Bedi in Bengaluru; Editing by Harikrishnan Nair) ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))