5th Mar 2014 08:32
LONDON (Alliance News) - Dignity PLC, the UK's only listed funeral company, Wednesday reported higher profits and revenues for its 2013 financial year, helped by strong sales of pre-arranged funeral plans, and said it expects further growth in 2014 despite a slow start to the year.
The company reported a pretax profit of GBP49.6 million for the 52 weeks to December 27, 2013, up from 45.4 million a year earlier, as revenues rose to GBP256.7 million, from GBP229.6 million. It will pay a final dividend of 11.83 pence, up from 10.75 pence.
"The board remains confident in the group's prospects and considers its well tested strategy is still appropriate in the current market. As expected, 2014 has started quietly, however the board's expectations for 2014 remain positive and unchanged," Chief Executive Mike McCollum said in a statement.
Dignity bought Yew Holdings for GBP58.3 million in January last year, and said it has performed in line with its hopes. It also spent GBP3.4 million on other smaller funeral acquisitions.
In its statement, it said memorial sales had remained robust and it had another strong year for pre-arranged funeral sales. Unfulfilled pre-arranged funeral plans rose to 323,000.
Dignity shares were up 0.1% at 1,489 pence early Wednesday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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