Higher death rate boosts Dignity’s figures

SUTTON Coldfield funeral services group Dignity has seen its revenue increase by 19.2% for the half year ended June 27.

Revenue reached £158.7m compared to £133.1m in the corresponding period in 2014.

The UK’s only listed funeral services provider also enjoyed a significant hike in its profit before taxation, increasing by 42.9% to £45m (2014: £31.5m).

The firm benefited from a higher death rate in the first half of this year (317,000) compared to the same period in 2014 (280,000).

The group has acquired 46 funeral locations and opened one satellite location since the start of the year, representing an aggregate investment of £47.2m.

This includes the acquisition of 36 locations from Laurel Funerals for a consideration of £38m, which completed on July 13.
 
Chief executive Mike McCollum said: “This has been a very strong half year for the group. Client service standards remain excellent and I am delighted with our performance.

“We have invested £47.2m in acquisitions so far this year from cash on our balance sheet which should help to create further value for our shareholders in the future.”