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Dignity sees profits soar

Dignity has seen underlying operating profits increase by seven percent to £59.5 million.

The company has said that the reason behind this is the number of deaths is seven percent higher than last year in the first quarter, the half year concluded with the number of deaths two percent higher than the same period in 2016.

The Group has acquired 14 funeral locations and one crematorium for an aggregate investment of £23.4 million and has opened seven satellite locations in the period to 30 June 2017.

Since this date, the Group has acquired three funeral locations and opened one satellite location.

The Group has noted some aggressive pricing activity from competitors on both funerals and pre-arranged funeral plans.

Mike McCollum, chief executive of Dignity plc commented: “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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