Business
Results for the year ended 31 March 2023
Results for the year ended 31 March 2023.
About this update from Dcc Plc
[{"type":"text","content":"\n\n\n16 May 2023\nPreliminary statement of results for the year ended 31 March 2023\nDCC Delivers Strong Growth, Continued Development and Progress in Sustainability\n· Strong growth in adjusted operating profit, up 11.3% (7.8% on a constant currency basis), ahead of market consensus expectations. Growth driven by DCC Energy and acquisitions completed in the current and prior year\n· Free cash flow conversion of 87%, another year of very strong cash generation\n· Propose to increase the total dividend for the year by 6.5%, DCC's 29th consecutive year of dividend growth\n· Increased share of services and renewable operating profit within DCC Energy from 22% to 28% and reduced Scope 3 carbon emissions by 5.0%\n· Committed £360 million to 19 acquisitions during the period, including DCC Healthcare's acquisition of Medi-Globe and DCC Energy's acquisition of PVO\n· Notwithstanding the uncertain economic environment, DCC expects that the year ending 31 March 2024 will be another year of operating profit growth and continued development activity\nDonal Murphy, Chief Executive, commented:\n\"DCC delivered strong growth in a volatile macro environment, demonstrating the resilience of our diverse business and the commitment of our teams throughout the Group. In line with our capital allocation priorities, we committed £360 million to new acquisitions during the period, bringing our spend in the last three years to £1.3 billion. This has increased our scale and geographic reach in the healthcare and technology sectors. We also accelerated DCC Energy's services and renewable offering through 10 acquisitions since we launched our 'Leading with Energy' strategy a year ago, complementing our organic initiatives to bring cleaner energy to our customers. We have exciting growth platforms to invest in what the world needs: cleaner and reliable energy, lifelong health and progressive technology.\"\n\n\n\n\nFinancial Highlights\n\n\n2023\n\n\n2022\n\n\n% change\n\n\n% change CC1\n\n\n\n\nRevenue\n\n\n£22.205bn\n\n\n£17.732bn\n\n\n+25.2%\n\n\n+23.2%\n\n\n\n\nAdjusted operating profit2\n\n\n£655.7m\n\n\n£589.2m\n\n\n+11.3%\n\n\n+7.8%\n\n\n\n\nDCC Energy\n\n\n£457.8m\n\n\n£407.1m\n\n\n+12.4%\n\n\n+10.0%\n\n\n\n\nDCC Healthcare\n\n\n£91.8m\n\n\n£100.4m\n\n\n-8.6%\n\n\n-11.1%\n\n\n\n\nDCC Technology\n\n\n£106.1m\n\n\n£81.7m\n\n\n+29.9%\n\n\n+19.7%\n\n\...