REG - DCC PLC - Interim Management Statement <Origin Href="QuoteRef">DCC.L</Origin>

DCCAnnouncement

06/09/2014 18:28

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RNS Number : 6978M
DCC PLC
18 July 2014 
 
18 July 2014 
 
DCC plc 
 
Interim Management Statement 
 
Trading In Line with Expectations 
 
DCC plc, the international sales, marketing, distribution and business support
services group, is issuing this Interim Management Statement in accordance
with the reporting requirements of the Transparency Regulations 2007 in
advance of the Company's AGM to be held in Dublin at 11.00 am today. 
 
First Quarter ended 30 June 2014 
 
Overall trading for the first quarter to 30 June 2014 has been in line with
budget. 
 
DCC Energy, the Group's largest division, traded broadly in line with budget
but, as anticipated, behind last year, which had the benefit of colder than
normal weather conditions in the first quarter. 
 
Trading in DCC Technology, the Group's second largest division, was in line
with budget and ahead of last year, principally reflecting continued sales
growth in IT and communications products. 
 
DCC Healthcare performed ahead of budget and the prior year, benefitting from
the continued strong sales performance in DCC Health & Beauty Solutions and
from the contributions from acquisitions completed over the last year. 
 
DCC's two smaller divisions, DCC Environmental and DCC Food & Beverage, both
traded in line with budget and ahead of last year as the economic recovery in
Britain and Ireland continues. 
 
Year to 31 March 2015 
 
At what is still a very early stage in its financial year (particularly given
that operating profit is significantly weighted towards the second half), the
Group now anticipates that operating profit and adjusted earnings per share
will be approximately 10% - 12% ahead of last year. 
 
This guidance continues to be set against the important assumption that there
will be normal winter weather conditions. Having regard to the unseasonably
colder start to the prior year, it is anticipated that this growth in the year
to 31 March 2015 will be significantly weighted towards the second half. 
 
Development Activity 
 
As previously announced on 3 June 2014, DCC Healthcare has acquired Williams
Medical Holdings ("Williams"), the market leader in the supply of medical and
pharmaceutical products and related services to general practitioners in
Britain. The consideration was paid in cash at completion, based on an
enterprise value of £45 million. Williams supplies a wide range of own and
third party branded products - medical equipment, consumables and
pharmaceuticals - to a very broad customer base of c.10,000 GP practices and
healthcare providers in the community care and domiciliary care sectors. The
business also provides a range of services including field based testing &
calibration and repair & maintenance of equipment. The Williams business
model, similar to that in DCC Technology, is based on telesales, e-commerce,
product catalogues and key account management, supported by high quality IT
systems and cost effective logistics. 
 
The acquisition of Williams represents an excellent strategic fit and another
material step forward for DCC Healthcare following the acquisitions of Kent
Pharma, Leonhard Lang UK and UPL over the last 15 months. 
 
DCC's strong equity base, long term debt maturities and significant cash and
committed funding resources leave it well placed to continue the development
of its business in existing and new geographies. 
 
Date for Interim Results 
 
DCC expects to announce its interim results for the six months to 30 September
2014 on Tuesday 4 November 2014. 
 
For reference: 
 
Tommy Breen, Chief Executive 
 
Fergal O'Dwyer, Chief Financial Officer 
 
Stephen Casey, Investor Relations Manager 
 
Telephone: +353 1 2799400 
 
Email: investorrelations@dcc.ie 
 
Web: www.dcc.ie 
 
Forward-looking statements 
 
This announcement contains some forward-looking statements that represent
DCC's expectations for its business, based on current expectations about
future events, which by their nature involve risk and uncertainty.  DCC
believes that its expectations and assumptions with respect to these
forward-looking statements are reasonable, however because they involve risk
and uncertainty as to future circumstances, which are in many cases beyond
DCC's control, actual results or performance may differ materially from those
expressed in or implied by such forward-looking statements. 
 
About DCC plc 
 
DCC plc is an international sales, marketing, distribution and business
support services group headquartered in Dublin with operations in Britain,
Continental Europe and Ireland. DCC has five divisions - DCC Energy, DCC
Technology, DCC Healthcare, DCC Environmental and DCC Food & Beverage. In its
last financial year ended 31 March 2014, DCC generated revenues of £11.2
billion and operating profits of £208 million and currently employs
approximately 10,000 people in 13 countries. DCC's shares are listed on the
London Stock Exchange and are included in the FTSE All-Share Index and the
FTSE 250 Index under Support Services. 
 
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