Interim Management Statement

RNS Number : 5063G

Dignity PLC

13 May 2011

 



For immediate release                                                                                               13 May 2011

Dignity plc

('Dignity' or 'the Group')

First interim management statement

 for 2011

Dignity plc, the UK's only listed provider of funeral services, announces its first interim management statement for 2011.

	13 week period ended
	1      April	26   March	Increase
	2011	2010	per cent
Revenue (£million)	59.1	53.9	9.6
Underlying operating profit* (£million)	22.6	20.4	10.8

*Underlying operating profit is calculated as operating profit excluding profit on sale of fixed assets and transaction costs.

Trading since 1 April 2011 continues to be in line with management's expectations and there were no significant transactions in the period to 12 May 2011.

The Group has acquired three existing funeral locations and has opened eight new satellite locations since the start of the year. As expected, the crematorium in Somerset became operational in late March and the crematorium in Worcestershire is anticipated to become operational by the end of the third quarter of 2011. Pre-arranged funeral plan sales continue to be strong.

Mike McCollum, Chief Executive of Dignity plc commented:

"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."

In accordance with the terms of the securitisation carried out in April 2003, Dignity (2002) Limited (the holding company of those companies subject to the securitisation) has today issued reports to the Rating Agencies (Fitch and Standard & Poor's), the Security Trustee and the holders of notes issued in connection with the securitisation confirming compliance with the covenants established under the securitisation.

Copies of these reports are available at http://www.dignityfuneralsplc.co.uk

For further information please contact:

Dignity plc                                           0121 354 1557

Mike McCollum, Chief Executive

Steve Whittern, Finance Director

Buchanan Communications                0207 466 5000

Richard Oldworth

Suzanne Brocks

Christian Goodbody

 

END

 

 

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