Waking up at last. |
Adjusted operating profit up 12% in the interims.German bolt-on acquisitions of LPG distributor for €160 million.
Business as usual. |
Results Tuesday |
Pushing out the petrol car ban should help sentiment here. |
5 new acquisitions announced in the Energy division,worth 160 million,almost all aimed at reducing customers' carbon emissions.reiterating target to double profits by 2030.I look forward to the broker reports from the site visit near Paris later. |
Just starting to look at this- are the current management team as savvy as their predecessors who seemed pretty entrepreneurial? |
With money market rates now offering over 4% for no risk the dividend argument for holding this stock is irrelevant. The market just doesn't buy the DCC story. Something's got to give (then again I've been saying that for years!) |
AGM in a few weeks time. Hopefully some institutional shareholders will question the reasons for the continuous decline in market cap and what (if any) actions are ever going to be taken by management to address this issue. |
It's still 70% an oil and gas distribution business - healthcare side down 19%, Tech business down 17%. Share price still lower than seven years ago. No share buybacks and management don't seem to have any interest in buying shares at such a great price?
Seems like the only people making money on DCC shares are the FTSE day traders |
Another year of solid progress,revenue up,profit up,dividend up.As expected. |
Do we know when is ex-div date? |
Management is excellent,driving profits and ROI.I want my management to run the company,not waste time in promoting the share .It's not a 'dud',it's doing great.
Obviously,if they were to initiate a share buyback at these levels,buying shares for half-nothing,I think most shareholders would approve.They could muster a billion pounds of firepower if they wish.However,afterwards,as the share price doubled,they would need to stop and not overpay. |
Something has to give, this can't continue. Don't expect any management intiatives they're too lacking in management ability. |
The Sunday Times(29/01/23)has an article reviewing some Irish companies and activist investor involvement. Here's their comment regarding DCC - "market darling turned dud, DCC looks like a sitting duck" |
Some sensible advice |
At £43 this company is on a 9.3 PE for 2023.
Something is likely to give - maybe a profits warning o splitting up the business ? |
Well, I'm not the biggest fan of this company or its management but I'm beginning to take an interest in its sagging share price. Oversold? Maybe, but I'll continue watching for now, Wait perhaps for the next trading update or some positive (sic) management initiatives. |
There has certainly been no shortage of broker downgrades over the last few months. Barclays dropped their (already low) target to £41 today. No sign of any share buybacks or large insider buys which would be expected if the stock is undervalued.
I'll stick with backing shares like Ryanair where top level remuneration is directly connected to share performance |
chart still shows a steady downtrend and yet the analyst only downgraded it to 7000 after results . Market should bounce today after better showing by US indices and might help DCC to recover a bit |
The five year low was £42.39 in march 2020. Looks like this record could be beaten soon. |
The dividend increase over the last 5/6 years has been little compensation for the 40% share price decline over the same period |
Revenue up 44%, adjusted earnings per share up just 9%. Go figure.
Massive increase in net debt, hope they've fixed the interest rate.
Unsurprisingly the market isn't impressed (you'd have though they would be used to disappointment after all these years of underperformance!)However, I'm open to persuasion that we might finally start to see some pay back from their unremitting capital splurges! |
On average over the past 5/6 years the dividend looks to be rising by 10% a year. |
The top line looks good as the energy division results are masking weakness in the technology and healthcare divisions. As usual the market continues to de-rate the stock which it perceives as primarily an oil/gas play - somewhat of an over reaction today. |
Wilbur, do you have a target yield? |
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