Q1 revenues climb almost 10% for funeral provider Dignity

DIGNITY, the UK’s only listed provider of funeral services, saw a near 10% increase in revenue during the first quarter when compared to last year.

The Sutton Coldfield firm said Q1 revenue had risen from £53.9m in the first three months of last year to £59.1m in the same period this year, a rise of 9.6%. Underlying operating profit rose 10.8% to £22.6m.

The firm said trading since April 1 continued to be in line with management’s expectations and there were no significant transactions in the period to May 12.

Since the start of the year, the group has acquired three existing funeral locations and has opened eight new satellite locations.

A new crematorium in Somerset became operational in late March and a similar facility in Worcestershire is anticipated to open by the end of the third quarter of this year.

The firm’s pre-arranged funeral plans also continued to be a strong source of revenue.
 
Mike McCollum, chief executive of Dignity, said: “The group has seen a strong start to the year in each of its three businesses. Our outlook remains positive and our full year expectations are unchanged.”

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