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Annual Results

Dignity's underlying pre-tax profits up

08 March 2017 07:30

Funeral-related services provider Dignity's underlying pre-tax profits rose by 4% to £75.2m in the 53 week period ended 30 December.

Revenues were up 3% at £313.6m and underlying operating profits rose by 3% to £101.7m.

The group said the ginancial performance was better than expected at the start of the year, as guided in November 2016.

Deaths were broadly flat at 590,000 (2015: 588,000) and higher than originally anticipated.

Theg roup said that historical data would suggest that deaths in 2017 could be significantly lower than 2015 and 2016.

Trading in the first few weeks of 2017 has however continued to be strong.

As a result, the board's expectations are unchanged for the year ahead.

Chief executive Mike McCollum said: "I am pleased with our financial and operational performance in the period.

"Our business has responded well to the needs of our customers, maintaining the high standards we set ourselves.

"Looking into the future, we anticipate further engagement with the Scottish and Westminster parliaments, as we believe regulation of the funeral and pre-arranged funeral markets is necessary to ensure every family receives minimum standards of care from appropriate facilities.

"We also expect to invest more in digital technologies that will help our clients and also act as a source of new business for the Group."

Story provided by StockMarketWire.com

Related Company: DTY

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