DCC (LSE:DCC), the multi-energy sales and distribution group, said operating profit on a continuing basis was in line with expectations and ahead of the prior year in the first quarter ended 30 June.
DCC Energy traded ahead of last year and in line with expectations, despite a modest pull-forward of demand into the previous financial year's final quarter linked to the conflict in the Middle East. It added that its technology business unit also traded ahead of the prior year and in line with expectations over the quarter.
It also noted that the acquisition covering the Polish, Hungarian, Czech and Slovakian liquid gas markets, announced in January, was completed in late May, ahead of DCC's original timeline. The deal builds on the group's track record of consolidating fragmented markets through M&A.
The sale process for Nexora, part of DCC Technology, is meanwhile progressing in line with expectations and remains on track for agreement by the end of the calendar year.
DCC said it continues to expect strategic progress, growth and further development activity over the year ahead.
The group will report interim results for the six months to 30 September on Tuesday 10 November.
