Highlights:

  • Continuing adjusted operating profit declined 5.4% to £206.7 million, with second-quarter growth offsetting earlier weakness.
  • Interim dividend increased 5.0% to 69.50p per share.
  • Net debt reduced to £522.3 million, reflecting strategic disposals and capital returns.

DCC PLC (LSE:DCC) has released its interim results for the six months ending 30 September 2025, highlighting strategic divestments, capital returns, and continued progress across key business segments. The company also confirmed its plans to launch a £600 million tender offer, expected to complete in December 2025, and maintained guidance for the full year ending 31 March 2026.

Strategic Divestments and Capital Returns

During the first half of the financial year, DCC completed several notable transactions. The sale of DCC Healthcare concluded in September, followed by the disposal of DCC Technology’s Info Tech business in the UK and Ireland in October. These moves enabled the company to return £100 million to shareholders. In addition, DCC confirmed its intention to launch a £600 million tender offer, aimed at further enhancing shareholder value, with completion anticipated in December 2025.

Trading Performance and Segment Activity

Continuing adjusted operating profit for the half-year declined by 5.4% to £206.7 million, compared with £218.5 million in the prior year, influenced by prior-year comparatives, mild early-year weather, and the prior disposal of the Hong Kong & Macau business. Performance improved quarter-on-quarter, with modest growth in the second quarter. Segment highlights include:

  • Solutions: £101.8 million, down 10.0% year-on-year.
  • Mobility: £71.5 million, up 2.8% year-on-year, reflecting organic growth.
  • DCC Energy: £173.3 million, down 5.2% due to lower Energy Products profits, partly offset by growth in Energy Services.
  • DCC Technology: £33.4 million, down 6.9% reflecting ongoing strategic realignment.

Since May 2025, DCC has invested approximately £50 million in liquid gas acquisitions to strengthen its Energy division.

Earnings, Dividend, and Net Debt

Adjusted earnings per share (EPS) for continuing operations declined by 4.2% to 120.8p, or 4.4% on a constant currency basis. Despite this, the interim dividend increased by 5.0% to 69.50p per share, underlining the company’s confidence in the full-year outlook. Net debt, excluding lease creditors, stood at £522.3 million, down from £1,092.1 million in the prior year, reflecting the impact of disposals and cash returns to shareholders.

Outlook and Strategic Focus

DCC reaffirmed its guidance for the year ending 31 March 2026, expecting continued operating profit growth, strategic progress, and development activity across its business lines. The company remains focused on executing its long-term strategy through targeted acquisitions, portfolio optimisation, and capital returns to shareholders.