9th Nov 2015 07:25
LONDON (Alliance News) - Dignity PLC on Monday said it is set to outperform market expectations for 2015 thanks to a higher number of deaths in the UK year-on-year, though the funeral services company said it remains cautious on its outlook for 2016 given the number of deaths could fall significantly.
The FTSE 250-listed company said its revenue for the 39 weeks to September 25 was GBP227.0 million, up from GBP196.4 million, as the number of deaths in the period rose 9.0% to 446,000, up from 409,000.
For the third quarter, the number of deaths was flat year-on-year, slowing the growth rate down to 9.0% from the 13.0% seen in the first half of the year.
But Dignity said that given the relatively higher number of deaths in the first nine months of the year compared to 2014, it looks set to outperform market expectations for 2015, though the possibility the death rate could slow in 2016 means it has maintained its guidance for next year.
"2015 continues to be a year of very strong operational performance for the group. We remain focused on the fundamentals of our business. We have maintained very high levels of customer service, costs are well controlled and corporate development opportunities continue to be pursued," said Mike McCollum, Dignity's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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