Energy and distribution group DCC is expected to report strong full-year results for the 12 months to March-end this Wednesday.
In February, the company said the “particularly mild weather” in December has affected trading negatively in DCC Energy resulting in a downward revision of operating profit forecast.
DCC said it expected full-year operating profit and adjusted earnings per share to be in the range of 7-10 per cent, down from the previous estimate of 15 per cent and 13 per cent ahead respectively.
Davy Stockbrokers are forecasting operating profit of £202.8 million (€248.8m), 8.5 per cent higher than the full-year 2013, with earnings per share (EPS) 8 per cent ahead of last year.This is in line with DCC management’s guidance in March of 7-10 per cent EPS growth.
Operating profit from DCC's Energy division is forecast to grow by just over 4 per cent to £110.7 million (€135.8m) for the full year. "This reflects the positive impact of acquisitions, offset by the impact of milder weather in the seasonally stronger second half of the year," Davy analyst Barry Dixon said.
C&C will also report full-year results this week, for the 12 months to the end of February, with revenues of €632.6 million forecast, compared to €466.9 million in 2013. EBIT of €126.2 million is forecast, up from €113.9 million in 2013.
