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Interim Results

Dignity revenues rise

02 August 2017 07:28

Funeral related services provider Dignity's revenues rose by 7% to $£169.8m in the 26 weeks to the end of June.

Underlying operating profits were up 7% at £59.5m and underlying pre-tax profits rose by 9% to £46.1m.

The group said: "Following a very strong start to the year, with the number of deaths 7% higher than last year in the first quarter, the half year concluded with the number of deaths 2% higher than the same period in 2016."

The group said the results for the first half of 2017 were in line with the board's expectations. The group said it had acquired 14 funeral locations and one crematorium for an aggregate investment of £23.4 million and had opened seven satellite locations in the period to 30 June.

It said that since that date, it had acquired three funeral locations and opened one satellite location.

Chief executive Mike McCollum aid: "The year has started well for the Group, with good operational performance, continued excellent customer survey results and further acquisitions of established funeral businesses.

"The Group's expectations for the full year remain unchanged.

"As a Board, we remain alert to the strategic challenges facing the Group in a changing and increasingly competitive environment.

"This is reflected in the ongoing development of our digital strategy and the leadership we have demonstrated in calling for proper regulation of pre-arranged funeral plans.

"We will continue to review the scope of our service offering in the light of changing consumer demands and build on our strong market-leading position."

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