Dignity sees steady first quarter progress

DIGNITY, the UK’s only listed funeral services provider, has announced a first quarter revenue increase of almost 2%.

The Sutton Coldfield-based group saw revenues increase to £53.9m in the first three months of the year, which compares with £52.9m in the corresponding period last year.

Operating profits remained the same as the first quarter in 2009 at £20.4. The figure includes £1.5m recovered from pre-arranged funeral plan trusts.  

In a trading statement to the London Stock Exchange, the company said that trading since March 26 continued to be in line with management expectations and there had been no significant transactions in the period to May 9.

Mike McCollum, Dignity chief executive, said: “This is a good performance by the group.

“The first quarter of 2010 is more consistent with the average of the last five years than was the case last year when there was an unusually high number of deaths in the first quarter.”

“Our expectations for the full year’s financial performance continue to be positive and remain unchanged,” he added.