Funeral planner Dignity (LON:DTY) recorded stronger than expected results for the first quarter of the year, with a higher death rate and an increased interest in premium services boosting figures.
Revenue rose 2 percent to £95.1 million, up from £93.3 million, with underlying operating profit coming in at £37.5 million, a slight increase from £37.4 million.
The absolute number of deaths rose by 8 percent on the same period last year, with the group saying that it expects ‘at least’ the same number of deaths as last year, which was 590,000.
‘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,’ said Mike McCollum, Chief Executive of Dignity.
Shares in Dignity (LON:DTY) are currently trading up 3.04 percent at 1,253.00 (1028GMT).
