Energy and distribution group DCC is to be added to the FTSE 250 index from the close of business on June 21.
The announcement marks DCC’s entry to the FTSE family of indices and it will also be included in the FTSE all-share and FTSE 350 indices.
DCC is the latest in a line of Irish companies, which includes United Drug and Greencore, who have deserted the Irish exchange.
According to DCC, the decision to stop trading in Ireland was taken for reasons including the increasing internationalisation of its operations, “with a majority of DCC’s revenue and profit now derived from the UK and development activity focused on the UK and continental Europe, and the consequent reduction in the proportion of DCC’s revenue and profit earned in Ireland”.
DCC will remain incorporated, headquartered and tax resident in Ireland. In its last financial year, ended 31 March 2013, DCC had sales of £10.6 billion and operating profit of £187 million.
The recent review from the London Stock Exchange also sees the promotion of Travis Perkins and Persimmon to the FTSE 100 index.
The announced changes will be applied after the close of business on Friday June 21 and will be effective on Monday June 24.
