For a public company, the hard part is normally delivering great numbers every quarter. If the company can deliver great earnings, free cash conversion, returns on capital, dividends, and a robust balance sheet, the share price usually looks after itself. For DCC, delivering strong numbers isn’t the hard part. DCC has been delivering strong numbers consistently for years. For DCC, the hard part is getting the numbers to be recognised in the share price — ie, the thing that ultimately matters. The problem is the rise of ESG investing. ESG investing has gotten much more popular in the last five…

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