Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apotex Corp. recalled all lots of type 2 diabetes medication Metformin hydrochloride in the form of oral film-coated tablets for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine (NDMA), above levels of the Acceptable Daily Intake Limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Groupe Renault plans to cut about 14,600 jobs across the world and lower its production capacity. The plan includes almost 4,600 jobs reduction in France, through voluntary retirement and retraining. Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network.
Follow RTT