DCC PLC on Tuesday reported rises in both of its financial 2023 revenue and profit, as it expects another year of progress.

The Dublin-based sales, marketing, and support services company reported revenue of £22.21 billion for year ended on March 31, up 25% from £17.73 billion the year before. This is higher than the expected revenue of £21.24 billion.

The company said the increase in revenue was driven by higher energy commodity prices that prevailed during the year.

Pretax profit rose 6.4% to £431.6 million from £405.7 million, as operating profit increased by 12% to £512.0 million from £458.4 million the year before.

In DCC Energy, adjusted operating profit rose 12% to £457.8 million from £407.1 million. In DCC Technology, adjusted operating profit jumped 30% to £106.1 million from £81.7 million the year before. However adjusted operating profit in DCC Healthcare was down 8.6% to £91.8 million from £100.4 million.

Chief Executive Officer Donal Murphy said: ‘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.’

DCC declared a total dividend of 187.21 pence per share for financial 2023, up 6.5% from 175.78p per share a year prior. This is compared to FT-compiled consensus of 186.594p.

Looking ahead, DCC expects financial 2024 to be another year of operating profit growth and continued development activity.

Shares were up 1.4% at 4,719.00 pence each on Tuesday morning in London.

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