, the fuel distribution-to-technology group, reported on Tuesday that its adjusted operating profit rose 11.1 per cent to £589.2 million to beat market expectations.
The company also said that it is liquified petroleum gas and retail and oil units would be combined into a new division called DCC Energy, where the company has a “goal of leading customers in their transition to lower carbon and renewable energies”. DCC said it plans to cut the division’s scope three carbon emissions, which includes all emissions that it is directly and indirectly responsible for, from its suppliers to the use of its products by consumers, to net zero by 2050., is proposing a 11 per cent increase in its final dividend to 111.93p, resulting in a total dividend of 175.89p for the year.
Broken down by division, DCC LPG, the company’s biggest unit, saw its operating profit rise by 2.8 per cent to £237.7 million, while its retail and oil unit’s earnings jumped 17 per cent to £169.4 million. DCC Healthcare posted a 22.9 per cent increase in profits, while those of DCC Technology increased 12.8 per cent to £72.4 million.
“I am very pleased that DCC has delivered an excellent performance in a challenging macro environment, with profit growth across each of our divisions, again demonstrating the resilience of our business,” said Mr Murphy. “Although the world is experiencing a particularly volatile period and supply chain disruption is elevated, DCC is well positioned to grow and develop with momentum.”