Advertisement

Funeral group Dignity reports first quarter revenue growth

Funeral services company Dignity reported an 11 per cent jump in first quarter revenue as the number of deaths rose seven per cent.

Funeral services company Dignity reported an 11 per cent jump in first quarter revenue as the number of deaths rose seven per cent.

Revenue for the three months to end of March came to £67.8m, compared to £61.1m the previous year.

Underlying operating profit climbed 8.5% to £25.4m from the prior year's £23.4m.

Advertisement - Article continues below

The group said the overall performance was ahead of management's expectations, driven by a higher number of deaths compared to the same period in 2012.

In January, the firm completed the acquisition of Yew Holdings, a business including 40 funeral locations and two crematoriums.

The newly purchased business is trading in line with forecasts and integration is on track. However, it has diluted the overall growth in average income per funeral in the first quarter as anticipated.

The company has also purchased one other funeral location and opened seven satellite locations since the start of the year.

"This is a good performance by the group with the first quarter being ahead of our expectations," said Chief Executive Officer, Mike McCollum.

"The integration of Yew Holdings is progressing well and the initial performance is encouraging. All three divisions of the business are performing strongly. Our outlook remains positive and our full year expectations are unchanged."

Shares fell 0.14% to 1,444p at 08:48 Monday.

RD

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020