Strategic Focus on Energy
DCC announced a strategic plan to focus solely on its Energy business, which is the largest division with the highest returns, aiming to double profits by 2030.
Profit Growth and Dividend Increase
Operating profit increased by 4.7% to GBP 259.3 million, and the interim dividend was raised by 5% to 66.19p per share.
Strong Energy Division Performance
DCC Energy profits grew 8.4% on a constant currency basis, with solid growth driven by acquisitions and organic performance in various segments.
Cash Generation and Shareholder Returns
The Energy business continues to be highly cash-generative with a free cash flow conversion of 101%, and plans are in place to return surplus cash to shareholders.
Significant Strategic Progress
The company made GBP 130 million in acquisition investments, mainly in DCC Energy, and divested a majority stake in liquid gas operations in Hong Kong and Macau.