DCC has moved to abandon its conglomerate roots with a plan to sell its healthcare division and review “strategic options” for its technology business as it focuses on the energy sector.
The Dublin-based, but London-listed group, which floated as a holding company in 1976, said that it has begun preparations for a sale of its healthcare unit, which is expected to complete next year.
It will also weigh strategic options for its technology unit, following completion of a “value enhancing operational improvement programme”, within the next 24 months, it said in a statement on Tuesday.
DCC said it believes that its energy business and related opportunities in energy transition presents the largest growth opportunity, at strong returns, available to the group.
“In the energy sector we are building a unique, multi-energy, sustainable business focused on supporting our customers with their energy transition,” said chief executive Donal Murphy. “Our strategy will deliver strong profit growth, high returns and a significant reduction in our customers carbon emissions.”
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