12/05/2008
First interim management statement for 2008
Dignity plc, the UK's only listed provider of funeral services, announces its first interim management statement for 2008.
| 13 week period ended | |||
|---|---|---|---|
| 28 March 2008 | 30 March 2008 | Increase per cent | |
| Revenue (£million) | 46.9 | 43.2 | 8.6 |
| Operating profit (excluding profit on sale of fixed assets) (£million) | 17.7 | 16.6 | 16.6 |
Operating profit includes £1.5 million (Q1 2007: £1.5 million) in respect of recoveries from the pre-arranged funeral plan trusts.
The Group has acquired a total of 9 funeral locations and one crematorium and cemetery so far this year for total consideration of £17.0 million.
Trading since 28 March 2008 continues to be in line with expectations and there were no other significant transactions in the period to 11 May 2008.
Peter Hindley, Chief Executive of Dignity plc commented:
'The Group continues to trade well and remains in line with expectations for the full year.'
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 www.dignityfuneralsplc.co.uk
Enquiries:
Peter Hindley, Chief Executive
Mike McCollum, Finance Director
Dignity plc
0121 354 1557
Suzanne Brocks
Buchanan Communications
0207 466 5000