LONDON (dpa-AFX) - Ireland-headquartered DCC plc (DCC) that currently provides solutions across energy, healthcare and technology on Tuesday announced an update to the group's strategy whereby DCC would focus on the energy sector.
DCC believes that its energy business and related opportunity in energy transition presents the largest growth opportunity, at strong returns, available to the group. DCC Energy represents 74 percent of the Group's operating profits and delivers 18.7 percent return on capital employed, the highest return of the Group's three divisions.
In line with the strategic decision, the group has begun preparations for the sale of DCC Healthcare which is expected to be completed in 2025. Advisors have been appointed and preparations for a sale have begun.
The group would also review within the next 24 months its strategic options for DCC Technology, following completion of its value enhancing operational improvement programme.
DCC anticipates that surplus cash arising from the simplification of the group would be returned to shareholders, while maintaining a strong, investment-grade balance sheet.
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