Funeral services provider Dignity plc (DTY.L), Friday, announcing its interim results for the 26 weeks ended June 25, reported an increase in profit for the period, helped by a strong operating performance in all of its businesses. The company also said its expectations for the full year 2010 continue to be positive and remain unchanged. For the first half, the Sutton Coldfield, West Midlands-based company's profit before tax increased to GBP 24.3 million from GBP 22.8 million in the previous year. Underlying profit before tax was GBP 24 million, up 5.7% from 22.7 million a year ago. Profit for the period attributable to equity shareholders were GBP 17.2 million or 27 pence per share, higher than GBP 16.2 million or 25.5 pence per share in the prior year. Underlying earnings per share rose 5.1% to 26.6 pence from 25.3 pence reported a year earlier.
Revenues for the half year grew 5.5% to GBP 100.9 million from GBP 95.6 million reported in the prior-year period.
Operating profit improved to GBP 34.1 million from GBP 32.7 million in the preceding year. Underlying operating profits, which exclude the profit on disposal of fixed assets and any acquisition fees, were GBP 33.8 million, up 3.7% from 32.6 million reported in the prior-year period. Mike McCollum, chief executive of the company said, "The operating performance in the first half of 2010 is more consistent with the average of the last five years than last year. As expected, the operating performance in all three businesses in the second quarter of 2010 was very strong compared to the prior year."
Further, the company said its board believes that the Group's continued stable operating performance and currently attractive bond yields may present an opportunity to issue further Secured Notes and anticipates the majority of the proceeds to be returned to shareholders. Looking ahead Chairman Peter Hindley stated, "However, given general market conditions the Board anticipates releveraging the Group to a lower level than that seen historically."
In addition, the directors have approved an interim dividend of 4.43 pence per share, representing a 10% increase from last year, to shareholders of record September 29, payable on October 29. DTY.L is currently trading at 687.5 pence, up 5.5 pence or 0.81%, on a volume of 25 thousand shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.