DCC, the Irish mini-conglomerate, today issued a profits warning in its AGM statement. It says "the current depressed state of demand in the IT industry" could reduce profit growth rate to a single mid-digit.

The company also says that its Sercom Distribution unit is performing close to expectation in Q1, "despite particularly weak demand in the British IT hardware market". Sercom Distribution trades in the UK as Micro-P and Gem Distribution. ®