DCC Group, the Irish investments and holding company, has warned of weaker than expected earnings.
The firm, which has significant UK waste management interests through its environmental division, issued an Interim Management Statement. It blamed the “prolonged period of exceptionally mild weather together with the continuing difficult economic conditions and high oil prices” for weak demand in Q3.
DCC said it “now expects Group operating profit for the year to 31 March 2012 to be in the range of €175m (£145m) to €190m (£157m), compared to the group’s previous guidance of approximately €212m, and reported adjusted earnings per share to be in the range 155-170 cent (compared to the previous guidance of approximately 188 cent”.
“The group’s view on the full year outlook for DCC SerCom, DCC Healthcare, DCC Environmental and DCC Food & Beverage remains overall in line with market consensus estimates.”
DCC Environmental is involved in hazardous and non-hazardous waste management in Britain and owns the largest MRF in the east Midlands. It handles 1.2m tonnes of material a year.