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Dignity PLC H1 Pretax Profit Falls - Quick Facts

Dignity PLC (DTY.L) reported first-half profit before tax of 14.9 million pounds compared to 38.5 million pounds, prior year. Earnings per share was 23.0 pence compared to 61.4 pence. Underlying profit before tax declined to 23.9 million pounds from 43.4 million pounds. Underlying earnings per share was 37.8 pence compared to 69.4 pence.

First-half revenue declined to 153.3 million pounds from 174.7 million pounds, prior year. The number of deaths in the first half was seven percent lower than the same period last year.

Mike McCollum, Chief Executive of Dignity plc, said: "While the number of deaths in the first half meant that our financial performance for the period was lower than originally anticipated, we remain confident that the changes we are introducing will generate sustainable growth in the medium to long-term. Longer-term expectations, based on the ONS forecasts remain unchanged."

For 2019, if deaths were approximately three percent lower than the previous year, the Group projects underlying operating profits could be approximately 3 million pounds to 4 million pounds lower than anticipated at the start of the year. Following completion of the Transformation Plan, the Board continues to believe that targeting solid single digit increases in underlying earnings per share is achievable.

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