11th May 2015 06:36
LONDON (Alliance News) - Funeral services company Dignity PLC Monday said revenue rose by almost a quarter in the first three months of its financial year as it handled 19% more deaths than in the year-earlier period, although it expects the spike to normalise over the course of the year as a whole.
The FTSE 250-listed company said it made an operating profit, excluding profit or loss on sales of fixed assets and exceptional items, of GBP35.8 million in the 13 weeks to March 27, up from GBP25.8 million in the 13 weeks to March 28, 2014, as revenue rose to GBP85.5 million from GBP69.1 million as it handled 175,000 deaths, up from 147,000.
"However, data from previous years indicates that large variances in the number of deaths at the end of the first quarter tend to normalise by the end of the year," it said.
"The group's current assumption is that the number of deaths in 2015 will be broadly flat on the previous year. Average incomes continue to be robust and overheads well controlled, with the group yet to decide on the timing of any changes to its pricing. Taking all of these factors into account, the group's overall expectations for the year are positive and unchanged," it added.
Dignity said it has acquired 10 funeral locations since the start of the year, for an investment of about GBP8 million.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DTY.L