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The CMA IS still investigating funeral pricing, lack of transparency and overpriced crematoria. The Treasury IS still investigating funeral plans. Dignity - the clock is ticking.
Well said.
That must be why Mary ( a director) just bought 50k worth of shares. Because she knew the share price was going to collapse? You really are a dimwitted imbecile.
Incorrect! The CMA is most definitely still investigating. They are currently gathering evidence until June 28th. Dignity have not been pushing for tighter restrictions on what the CMA is investigating - the CMA is investigating lack of transparency and overpricing - two things Dignity are guilty of. You are mixing it up with what the Treasury is investigating - funeral plans. Dignity might be asked to stop hiding behind Age UK when selling theirs.
Dignity will be bricking it - the CMA will uncover their crematorium monopolies in towns throughout the country and their greedy prices. The treasury will also uncover that they use Age UK as a mask to sell their expensive funeral plans. My advice is to dump your shares before they're worthy nothing. The senior executives will have sold more of theirs, just like they did before last year's profit warning!
Just roughly adding up all the huge buys declared after 1630 hrs I make it about �2.6 million worth - glad I bought in on Friday PM. Next week should see a rising SP - I wonder if our dim-wit politicians have thought this through - if DTY goes out of business - who will bury the dead ? people have a habit of dying on a daily basis so long drawn out BREXIT type discussions would not work Regards all
when the Govt announced the review of gambling, bettings companies tanked and recovered well when the Govt announced a review into funeral charges Dignity tanked and then...........
A lot of individuals have now realised that this is excellent news and released the news outlets were just scare mongering. Back to 1300p very soon
Instead Dignity will be working along side the CMA
Dignity have actually been pushing for tighter restrictions! There should not have been a drop here today. Back up to 1300p soon. Maybe more because this shows dignity have a stronger position within the market now
This is indeed an excellent buying opportunity. Took the opportunity to top up this morning. The news was actually very exciting to see today, and will no doubt clean up the market. Great to see Dignity showing leadership here, which will secure their foothold as industry leader in the UK.
Below is what was said at last results. Dignity have been asking for regulation. Drop here is not justified. Expecting a rebound today once news is digested. Chief executive Mike McCollum said: "While the first quarter produced a much stronger result than we had anticipated when implementing the price changes in January, the current year is all about completing our review of our funeral business and ensuring we provide the excellent service our clients expect from us. We will also continue to demonstrate industry leadership by calling for stronger regulation in the funeral plan sector to protect customers."
Proactive rubbish. CMA are no longer investigating this.
Dignity's share price revival stopped in its tracks by CMA investigation ... Proactive Investors UK-46 minutes ago Dignity's share price revival stopped in its tracks by CMA investigation into funerals ... Shares in funeral services provider Dignity PLC (LON:DTY) were the worst ...
Looks like lack of information from the BOD isn't clarifying this matter. They may have left it too late to make a recovery - should have been a statement before 8 AM if they had their eyes on the ball.
What happened mid day 7.23% rise in just half a day ? Looks like we should have bought back in hey Odonnell ?
WE TOOK OUR PROFIT AT 1114 MISSED THE 1148
Trading Update for the First Quarter 2018 On 14 March 2018 Dignity, the UK's only listed provider of funeral related services, announced its preliminary results for the 52 week period ended 29 December 2017 and stated that, following the strategic decision to reduce some funeral prices and holding others in response to changing market conditions and increased competition, it expected trading in 2018 to be volatile as the relationship between funeral price, service and volume would take time to settle down. In that preliminary announcement we indicated that, although too early to make any conclusions, the initial analysis of the mix of funerals in that first seven weeks, since the introduction of the reduced simple funeral price, had shown a step change in the number of simple funerals as a percentage of all funerals conducted by the Group but that this was at a run rate of approximately 15 per cent (lower than the 20 per cent originally anticipated by the Board). Additionally, the absolute number of deaths in the first seven weeks of 2018 were approximately seven per cent higher than the prior year. The Office of National Statistics expects a decline of 0.2 per cent for the year as a whole. The trend highlighted in that results announcement has continued throughout Q1 and overall deaths are up approximately eight percent to 181,000 from 167,000 in the comparative period last year. Additionally, the anticipated mix of simple funerals as a percentage of total funerals has continued at levels lower than the Board's initial forecast. Dignity's Q1 revenue was approximately �95 million compared to �93 million in the prior year and EBIT was approximately �37.5 million in line with the prior year, but significantly ahead of the Board's expectations. Despite this positive start to the year, the Board still believes it is too early to conclude that the trading experienced in Q1 is indicative of the likely funeral price / volume mix going forward and the Group continues to conduct a significant number of price and service trials across its entire portfolio. The data from these trials is still at a very early stage and it is not yet possible to draw any meaningful conclusions. The Board continues to believe that trading during 2018 will be volatile but based on the first quarter results believe that results for the full year will be ahead of current market expectations. In August 2018 the Board will be able to update the market as to results of these trials and the operational review being undertaken in conjunction with L.E.K. Consulting. The Board expects to announce the full first quarter results on 14 May 2018.
How can you even say that " You have customer base that keeps dying, which other companies do not want " anyone who bought a pre need funeral plan is tied to this company and thats just a simple fact........ as for the other customers / clients.... they do have freedom to use anyone they chose and in alot of cases, ppl out there are comparing prices more.....this company have out priced themselves and have been more many years, its just a shame that once high turnover funeral homes have been run into the ground
While the share price was too high when in the �20s i�11 is not unreasonable even considering how poor the management are How do these ex oxbridge and public school boys think they are so entitled to have directorships is beyond me. Even me with my secondary education in the 1950s could do better than them. You have customer base that keeps dying, which other companies do not want, How can you make such a mess of it is beyond me. We bought at about �9-10 and doubt if we will get our money back. To say this is a dying company is laughable.
Would I buy shares in this company under the present directors,simple answer NO how could you trust them I would rather throw £20 notes out the window and in invest in such a company with its Dell boy directors
Just seems to alot of token purchases being made by those ppl that are hoping for a easy buck, not interested in the long term... if they loose money then more fool them, but this could be part of the reason...Seems to me no ones investing coz of profit warnings
Don’t you find it galling that in 2016 and 2017 the directors have exercised their share options and sold at prices between £22 and £27 last year. The options are there to incentives them to grow the business and enhance shareholder value. But the share price is now less than it was 5 years ago. And since they sold all the bad news has come out. So there in lies the answer to your question. And if the same directors are there now and sat on a few milliion each and are basically just company employees (not entrepreneurs) then what do you think you’ll get Fron them now. They’ve done their bit, it’s all gone horribly wrong and the cleaning up exercise is just beginning. Ok they still have ahares, I’m assuming theyre either restrictions on selling them or they didn’t have the guts to do the lot. But that’s not to say people don’t see it as an opportunity given the share fall. Let’s face it, it was only a month ago that one broker was recommending conviviality as a buy. The perils of investing. We trust people who we shouldn’t. I got stung by carillion last year and would not buy shares where the directors bail out. Sometimes it’s better to catch a rising star than a falling sword. Good luck with whatever you decide to do. It’s never easy
This share was nearly 1000p last week then the lift began to head for the basement. What has caused this price drop? am thinking of getting out at a loss. They say if a share does drop 10% the get out. Can see no more news that would cause the fall this week. Did go up at the start today before heading down again. Anyone have any ideas. More bad news on the way?