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Industrial services group DCC has said its earnings would
be weaker than expected due to an "exceptionally mild" winter,
continuing economic conditions and high oil prices.
In an interim management statement, DCC
said it now expects group operating profit for the year to
the end of March 31 March to be in the range of €175 million
to €190 million, compared to the group’s previous guidance
of approximately €212 million.
It also expected reported adjusted earnings per share to
be in the range of 155 cent to 170 cent as against the previous
guidance of approximately 188 cent.
Revenues and profits in DCC SerCom, DCC’s second largest
division, are "strongly ahead of the prior year," reflecting
acquisitions completed in the prior year and strong organic
growth, the group said.
The group’s view on the full year outlook for DCC SerCom,
DCC Healthcare, DCC Environmental and DCC Food & Beverage
remains overall in line with market consensus estimates.
DCC estimates that the operating profit of DCC Energy for
the year to the end of March will be in the range of €75 million
to €90 million.
Notwithstanding the difficult trading, the group said it
was encouraged by the development activity within DCC Energy
in the financial year to-date.
Source - The Irish Times
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