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Dignity's first half profits fall on fewer deaths

Wed, 30th Jul 2014 10:06

British undertakers group Dignity reported a drop in first half profit as the number of deaths declined. Underlying pre-tax profit fell 2.4% to £32.3m and revenue slipped 0.1% to £133.1m. Underlying operating profit was flat at £45.6m.Deaths were 7% lower than in the same period in 2013, when reported deaths rose by 5.6%. It was offset slightly by cost control.The company said its current assumption is that the number of deaths will be between 535,000 and 550,000 in 2014."No individual year in the last 30 years has witnessed a reduction of more than 5% in the number of deaths compared to the previous year," the group said."On this basis and assuming average incomes and market share remain robust and overheads under control, the group's overall expectations for the year are positive and unchanged."An interim dividend of 6.49p per share was proposed after no dividend in 2013. RD