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Dignity Expects FY17 Results To Be In Line With Market View

Dignity Plc. (DTY.L) confirmed Friday that its results for the period ended 29 December 2017 will be in line with market expectations. Its preliminary results will be published on 14 March 2018.

While the pre-arranged and crematoria businesses are performing strongly with no change to the Board's expectations for these businesses, the Board is keen to address the continuing acceleration of price competition facing its funeral business. The Board is therefore taking decisive action on its funeral pricing strategy with a view to protecting market share and repositioning the Group for future growth.

Consequently, the company believes that the results for the period ending 28 December 2018 will be substantially below the market's current expectations.

The company noted that, effective immediately, the Group's simple funeral will be reduced by an average of approximately 25 per cent and there will also be a price freeze for the Group's traditional funerals in the majority of the Group's locations. Consequently, the Group is now embarking on a rigorous review to ensure that its funeral operations are organised to run more efficiently and effectively.

The company stated that there are tremendous opportunities to lead the industry in digital marketing and to leverage the Group's scale to develop national recognition online to complement its existing national network. The company will also continue to lead calls for greater regulation of the funeral sector while continuing to set the standard for what constitutes best practice in the industry.

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