11th Nov 2019 09:00
(Alliance News) - Funeral services firm Dignity PLC said Monday its performance in 2019 to date was weaker than a year prior as the number of deaths fell.
For the 39 weeks ended September 27, underlying operating profit fell 30% to GBP47.9 million from GBP68.6 million a year before. This was after revenue fell 7.7% to GBP225.4 million from GBP244.2 million.
Performance was hurt by the number of deaths falling 5.1% to 432,000 from 455,000 previously. Dignity, which is based in Sutton Coldfield near Birmingham, added that full year performance relies heavily on the future number of deaths in the UK which "may or may not" revert to the higher levels seen in 2018.
"I am pleased with the group's progress so far this year," Chief Executive Officer Mike McCollum said. "Although deaths are lower, market share remains robust, the transformation plan remains on track, and our journey to build a more modern technologically enabled business that offers clients a high-quality service at a variety of price points remains firmly intact."
Shares in Dignity were 2.2% lower at 516.00 pence in London on Monday.
By Ahren Lester; [email protected]
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