Investing.com -- DCC plc (LON: DCC ) on Thursday said its first-quarter operating profit was modestly behind last year but in line with expectations, as its energy business traded slightly lower, and its technology division was flat.

In a trading update ahead of its annual general meeting, the FTSE 100 group said the results reflect the seasonally less significant nature of the first quarter, which typically accounts for about 15% to 20% of annual operating profit. The company did not provide specific figures for the period.

DCC reiterated its guidance for the year ending March 31, 2026, expecting good operating profit growth on a continuing basis, along with strategic progress and ongoing development activity.

Analysts at Jefferies noted this guidance remains consistent with consensus estimates of £632 million in EBITA for fiscal 2026, compared with £618 million in the previous year.

DCC Energy, the group’s largest division, traded modestly below the prior year but in line with internal forecasts.

The performance was attributed in part to seasonal weather patterns. DCC Technology traded in line with the previous year.

There was no merger or acquisition activity during the quarter, though the company said its development pipeline remains active.

DCC also confirmed it still expects to complete the sale of its Healthcare division in the second quarter of fiscal 2026, pending regulatory approval. The transaction was first announced on April 22, 2025.

A £100 million share buyback program that began on May 27 is ongoing and 33% complete.

DCC has also committed to return up to £600 million to shareholders following completion of the Healthcare sale. Jefferies analysts continue to expect the disposal of the Technology division in calendar year 2026, likely in multiple parts, with proceeds also expected to be returned to shareholders.

Separately, leadership changes take effect following the AGM. Kevin Lucey, chief financial officer since 2020, will become chief operating officer. Conor Murphy will succeed him as CFO and join the board as an executive director.

For the year ended March 31, DCC reported revenue of £18 billion and adjusted operating profit of £617.5 million.

The group has reported 13% compound annual growth in adjusted operating profit and maintained uninterrupted dividend growth over 31 consecutive years as a public company.