It’s an unavoidably mawkish fact, but death is one business that should be entirely immune to recession.
Funeral service provider Dignity’s third-quarter results today offered further evidence that catering for the inevitable can be a growth industry, with profit up 10% to £53.4 million.
That result come from revenues up 9% at £169 million, a profit margin few sectors can match.
Dignity is the UK’s only listed provider of funeral services and can trace its roots back 200 years.
The company has 37 crematoria across the UK and has just spent £6.5 million on 10 more funeral locations, bringing the total it has acquired since the start of its financial year to 18.
Chief executive Mike McCollum said that sales of pre-arranged funeral plans were “robust” and the firm expects this trend to continue next year.
He added: “This is a very strong performance.
“We continue to increase the number of funeral and crematoria locations we operate.
“Pre-arranged funeral plan sales continue to develop and I am pleased with the positive contribution they are making to the future of this business.”
The company’s shares gained 12.64p to 935.6p, leaving it valued at £512 million.
Investec said in a note: “Trading has been strong.”
Read More
MORE ABOUT