Dignity posts 12% rise in revenues

Dignity reported a 12% increase in revenues and operating profits for the 26 weeks to 27 June, despite a small decline in the number of deaths over the period.

Morningstar.co.uk Editors 29 July, 2008 | 7:58AM
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Revenues for the undertaker rose from £81.1m to £90.6m, while pre-tax profits rose from £18.3m to £22.1m. The group now manages funerals for around 12.5% of all estimated deaths (up from 12% for the previous year) and cremations for 7.1% of all estimated deaths (no change on the previous year). The group will pay an interim dividend of 3.66p per share, up from 3.33p for the same period last year.

The group said that a new automated system of births, deaths and marriages implemented by the Office of National Statistics is making previous year comparisons difficult, but the initial estimated deaths in Great Britain for the first half of 2008 were 286,600, down from 288,700 for the same period last year. However, they continue to give a good general background to the group’s performance.

The group has invested £17m in nine new funeral locations and one crematorium since the start of the year. At the same time, net debt has been reduced by £4.3m, but remains high at £237.2m.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Dignity PLC675.00 GBX-0.74

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