Dignity PLC 2018 trading update (0709N)
15 January 2019 - 6:00PM
UK Regulatory
TIDMDTY
RNS Number : 0709N
Dignity PLC
15 January 2019
For immediate release 15 January 2019
Dignity plc
2018 trading update
Dignity plc (Dignity or the Group), the UK's only listed
provider of funeral related services, announces a trading update
following the conclusion of 2018.
2018 financial performance
Initial indications suggest 599,000 deaths in the year,
consistent with the Group's expectations. However, operating
performance in the fourth quarter was stronger than expected,
principally due to:
-- Comparable market share remaining robust and showing small growth year on year;
-- Funeral average income remaining higher than anticipated;
-- Overheads being lower than expected, partly due to the timing
of some marketing spend which will now occur in 2019.
As a consequence, the Group expects (subject to audit) to report
underlying operating profits of approximately GBP79 million, which
is ahead of current market expectations.
Good progress continues to be made on the Transformation Plan.
Following the price reductions introduced in 2018, the Board
continues to expect average funeral incomes to be lower in 2019
than in 2018 and there are therefore no changes to the Board's
expectations for 2019.
The Group will report its preliminary results on 13 March
2019.
For more information
Mike McCollum, Chief Executive
Steve Whittern, Finance Director
Dignity plc +44 (0)20 7466 5000
Richard Oldworth
Chris Lane
Catriona Flint
Buchanan +44 (0)20 7466 5000
www.buchanan.uk.com Dignity@buchanan.uk.com
Notes
Forward-looking statements
This announcement and the Dignity plc investor website may
contain certain 'forward-looking statements' with respect to
Dignity plc ('Company') and the Group's financial condition,
results of its operations and business, and certain plans,
strategy, objectives, goals and expectations with respect to these
items and the economies and markets in which the Group
operates.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'should', 'will',
'would', 'expects', 'believes', 'intends', 'plans', 'targets',
'goal' or 'estimates' or, in each case, their negative or other
variations or comparable terminology. Forward-looking statements
are not guarantees of future performance. By their very nature
forward-looking statements are inherently unpredictable,
speculative and involve risk and uncertainty because they relate to
events and depend on circumstances that will occur in the future.
Many of these assumptions, risks and uncertainties relate to
factors that are beyond the Group's ability to control or estimate
precisely. There are a number of such factors that could cause
actual results and developments to differ materially from those
expressed or implied by these forward-looking statements. These
factors include, but are not limited to, changes in the economies
and markets in which the Group operates; changes in the legal,
regulatory and competition frameworks in which the Group operates;
changes in the markets from which the Group raises finance; the
impact of legal or other proceedings against or which affect the
Group; changes in accounting practices and interpretation of
accounting standards under IFRS, and changes in interest and
exchange rates.
Any forward-looking statements made in this announcement or the
Dignity plc investor website, or made subsequently, which are
attributable to the Company or any other member of the Group, or
persons acting on their behalf, are expressly qualified in their
entirety by the factors referred to in this statement. Each
forward-looking statement speaks only as of the date it is made.
Except as required by its legal or statutory obligations, the
Company does not intend to update any forward-looking
statements.
Nothing in this announcement or on the Dignity plc investor
website should be construed as a profit forecast or an invitation
to deal in the securities of the Company.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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