NWF, a small peer of DCC has released a trading update this morning in which management are guiding for profitability levels to be ahead of the same period last year (Half year to the end of November). Of relevance to DCC, NWF noted that the Fuels division performed well in the period covered by the trading update with the commercial division being the main focus given that the period is one of lower demand for heating oil. <p>

For DCC, the Energy division is the group’s largest and makes up c. 57% of our profit forecasts for the group as a whole. The product split of the division is Road Transport (48%), Commercial fuel (19%), Heating Oil (24%) and LPG (9%).
<p><h5>David Holohan</h5>


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