DCC Energy reported a wider half-year loss on Tuesday, after a large impairment charge linked to its technology division, even as revenue climbed by a fifth and underlying profit from continuing operations edged higher.

The Dublin-based energy sales, marketing and distribution group said its loss after tax widened to £262.7 million for the six months to 30 September, from £176.1 million a year earlier. Revenue rose to £7.29 billion from £6.06 billion, while gross profit increased to £900.0 million from £806.3 million.

Impairment drives the headline loss

The headline loss was driven by discontinued operations, where the loss after tax widened to £323.7 million from £200.0 million. The results included a net exceptional charge of £371.1 million, including a £348.3 million impairment related to Nexora, the group's technology division.

Profit after tax from continuing operations rose to £61.0 million from £23.9 million, and pretax profit climbed to £81.5 million from £37.8 million. Adjusted operating profit from continuing operations edged up 1.1% to £175.2 million, while adjusted earnings per share rose 25.6% to 120.5p, helped by last year's share buybacks. Free cash flow conversion improved to 119% on a rolling 12-month basis, up from 95% a year earlier.

Mobility leads as energy services lags

Mobility was the strongest part of the business, with operating profit up 8.9% despite a 4.7% fall in fuel volumes, supported by stronger margins and growth in convenience services and electric vehicle charging. Energy Products also performed well, with operating profit up 5.5% despite lower volumes.

Energy Services remained the weak spot. Operating profit in its solutions division fell 4.3% to £97.4 million, as the company pointed to weak customer demand, pressure on margins and continued uncertainty around government energy efficiency programmes.

Chief Executive Donal Murphy said: "DCC Energy delivered a good performance in the first half, despite a difficult demand environment."

KKR takeover and Nexora sale

DCC Energy agreed last month to sell Nexora to One Equity Partners for $725 million (£545 million), a deal that will complete its simplification programme. The company also confirmed that its takeover by a consortium led by Energy Capital Partners and KKR is expected to complete in the first quarter of 2027, when it will move into private ownership.

No interim dividend will be paid in November 2026, in line with the terms of the recommended acquisition. Shares in DCC Energy were little changed in London on Tuesday morning, trading around 6,455p.