13/03/2008
Preliminary results for the 52 week period ended 28 December 2007
Dignity plc, announces its preliminary results for the 52 week period ended 28 December 2007.
| Financial highlights Underlying earnings per share(a) | Up 26% to 33.4p (2006: 26.6p) |
|---|---|
| Revenue | Up 6% to £159.5 million (2006: £149.8 million) |
| Underlying operating profit(b) | Up 8% to £47.6 million (2006: £44.1 million) |
| Underlying profit before tax(b) | Up 8% to £30.1 million (2006: £27.9 million) |
| Cash generated from operations(c) | Up 11% to £57.5 million (2006: £51.7 million) |
| Basic earnings per share | Up 33% to 34.4p (2006: 25.9p) |
| Operating profit | Up 10% to £47.7 million (2006: £43.4 million) |
| Profit before tax | Up 11% to £30.2 million (2006: £27.2 million) |
| Dividend per share | Interim dividend of 3.33p paid with a further 6.67p final dividend proposed (2006: interim dividend 3.03p, final dividend 6.06p) |
(a) Underlying earnings per share is calculated as profit on ordinary activities before exceptional items and profit on sale of fixed assets and after taxation divided by the weighted average number of Ordinary Shares in issue in the period.
(b) Before profit on sale of fixed assets and non-recurring costs expensed relating to redemption of B shares in August 2006.
(c) Before lump sum payment to final salary pension scheme of £10 million in August 2006 and £0.7 million payment in respect of redemption of B shares.
Highlights
- Outlook remains positive.
- Strong trading performance.
- Both funerals and crematoria divisions produced good results and margins continued to expand.
- Continued high customer satisfaction results.
- 21 funeral locations acquired in 2007 (and a further 6 funeral locations acquired since December).
- Total unfulfilled pre-arranged funeral plans increased to 197,300 plans.
Peter Hindley, Chief Executive of Dignity plc:
"Dignity's stable and predictable business has once again delivered strong growth in operating profits, increasing 8 per cent to £47.6 million. This performance, combined with an efficient capital structure, resulted in earnings per share increasing 26 per cent to 33.4 pence per share.
Trading in the first two months of 2008 has been strong and the Group is well placed to deliver further growth in 2008."
For more information
Peter Hindley, Chief Executive
Mike McCollum, Finance Director
Dignity plc
Tel: +44(0) 20 7466 5000
Richard Oldworth
Suzanne Brocks
Buchanan Communications
Tel: +44 (0) 20 7466 5000