As Diginty is new to the martkets and the first funeral services company to be floated, what are your views on its future potential?

There appears to be little data on which to ascertain a valuation.

I don't suppose we are going to run out of dead people!

Dignity plc
Preliminary results for the 52 week period ended 28 December 2012


http://www.dignityfunerals.co.uk/corporate/files/reports/2013/Dignity_2012_Preliminary_announcement.pdf

As of Apr 26, 2013, the consensus forecast amongst 6 polled investment analysts covering Dignity Plc advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts improved on Jul 01, 2012. The previous consensus forecast advised investors to hold their position in Dignity Plc

Share price forecast




The 5 analysts offering 12 month price targets for Dignity Plc have a median target of 1,424, with a high estimate of 1,625 and a low estimate of 1,150. The median estimate represents a 1.71% increase from the last price of 1,400

Q1 management statement

http://www.moneyam.com/action/news/showArticle?id=4592898

Funeral group Dignity reports first quarter revenue growth
Mon 13 May 2013



Funeral group Dignity reports first quarter revenue growth LONDON (SHARECAST) - Funeral services company Dignity reported an 11 per cent jump in first quarter revenue as the number of deaths rose seven per cent.

Revenue for the three months to end of March came to £67.8m, compared to £61.1m the previous year.

Underlying operating profit climbed 8.5% to £25.4m from the prior year’s £23.4m.

The group said the overall performance was ahead of management’s expectations, driven by a higher number of deaths compared to the same period in 2012.

In January, the firm completed the acquisition of Yew Holdings, a business including 40 funeral locations and two crematoriums.

The newly purchased business is trading in line with forecasts and integration is on track. However, it has diluted the overall growth in average income per funeral in the first quarter as anticipated.

The company has also purchased one other funeral location and opened seven satellite locations since the start of the year.

"This is a good performance by the group with the first quarter being ahead of our expectations," said Chief Executive Officer, Mike McCollum.

"The integration of Yew Holdings is progressing well and the initial performance is encouraging. All three divisions of the business are performing strongly. Our outlook remains positive and our full year expectations are unchanged."

Shares fell 0.14% to 1,444p at 08:48 Monday.

Dignity PLC (DTY:LSE) set a new 52-week high during today's trading session when it reached 1,462. Over this period, the share price is up 69.17%.

Dignity: Panmure Gordon ups target price from 1555p to 1600p leaving its buy recommendation unchanged. Investec takes target price from 1424p to 1450p and maintains an add rating.

A buy in this weeks IC - A 7% rise in the number of deaths in the first three months of this year has pushed funeral director Dignity's overall performance ahead of managements expectations. Revenue in the first quarter rose 11% to £67.8m, while underlying operating profit, excluding recoveries, increased by 16% to £25.4m

Ex dividend 22 May, payment 28 June 10.75p

Questor share tip: Hold Dignity on special dividend hopes
TelegraphTelegraph – 16 hours ago...

Dignity (LSE: DTY.L - news) continues with its buy and build strategy. Questor says hold.

Dignity £14.62 +16p Questor says HOLD

It requires a degree of tact for Dignity, the only listed UK funeral director and crematoria operator, to report that the year has started well for the business, but overall performance is running ahead of expectations because the prolonged bout of bad weather has taken its toll and increased burials and cremations.

The number of deaths in the first quarter was 7pc higher than the same period a year ago, with the result that Dignity's first quarter revenues were up 11pc at £67.8m and underlying operating profit 16pc higher at £25.4m. For the rest of the year Dignity expects the number of deaths, and consequently business, to "normalise".

Dignity has grown rapidly since making its market debut in 2004 with a series of acquisitions that have made the group second only to the Co op as the country's biggest funeral operator. The fragmented nature of an unregulated market heavily populated by family businesses has made it relatively easy and cheap for Dignity to consolidate without straining the balance sheet.

The formula is simple: acquisitions followed by cost cutting and integration.

The latest deal, the £58.3m takeover of Yew Holdings, which has 40 funeral locations and two crematoria, has temporarily clipped growth in funeral income but price rises pushed through last year should see an increase of around 5pc. Cremation revenue is up 6pc on the back of higher charges.

Burial and cremation costs remain a constant source of complaint. Calls for controls or regulation have so far had limited impact but Dignity appears relaxed at the prospect of intervention or some element of supervision.

The group has encouraged the promotion of pre arranged funeral plans as the third leg of its business, to cushion the cost of burials or cremation. Strong sales growth has increased the number of people covered by the schemes to around 300,000.

Over the past eight years the number of Dignity funeral homes has grown from 507 to 680 and the crematoria under its control from 21 to 39. There are more acquisitions to come, although analysts are expecting to see more emphasis on the growth of satellite locations.

The shares, up more than 30pc so far this year and almost 70pc over the past year, have had a good run. They are trading on a 20.54 earnings multiple this year and 18.24 next and, with the price ahead of the average analyst's target of 1422.4p, there is a temptation to take profits.

But, with Investec (LSE: INVP.L - news) predicting a 100p special dividend by the end of the year and nudging its price target to 1450p, the shares remain a hold.

Dignity schedules interims 28 June 2013 | 15:24pm StockMarketWire.com - Dignity will announce its interim results for the 26 week period to 28 June on 31 July. At 3:24pm: [LON:DTY] Dignity share price was +13p at 1362p - See more at: http://www.stockmarketwire.com/article/4622896/Dignity-schedules-interims.html#sthash.N6U0seAh.dpuf

Dignity PLC (DTY:LSE) set a new 52-week high during today's trading session when it reached 1,483. Over this period, the share price is up 81.96%.

I never did get around to these!!!

You will need the services one day skinny, rather later than sooner. :-))

A mention here.

Thanks skinny.

Dignity PLC (DTY:LSE) set a new 52-week high during today's trading session when it reached 1,509. Over this period, the share price is up 86.76%.

Flying - Dignity PLC (DTY:LSE) set a new 52-week high during today's trading session when it reached 1,562. Over this period, the share price is up 92.48%.

Issue of Preliminary Prospectus by Dignity Finance

RNS


RNS Number : 6633J

Dignity PLC

18 July 2013










For immediate release 18 July 2013

Dignity plc

Issue of Preliminary Prospectus by Dignity Finance PLC

Intended cash return to shareholders

Dignity plc ('Dignity' or the 'Group') announces that its subsidiary, Dignity Finance PLC has today issued a Preliminary Prospectus in respect of a potential issue of further Secured Notes.

It is the Group's intention to issue further Class A Notes with an outstanding nominal amount of up to £34.3million and further Class B Notes with an outstanding nominal amount of up to £40.8million (the 'Notes'). The actual proceeds raised from the Notes will depend on the market price and market conditions at the time of any issue. The closing market bid price on 17 July was approximately 119.1% for the Class A notes and approximately 136.9% for the Class B notes.

The Group has decided to take advantage of historically low interest rates which may not be available in the future. The nominal amount of new Notes offered is consistent with maintaining the existing A+/ BBB+ and A/BBB ratings by the two rating agencies who monitor Dignity's Notes, as required under the terms of the Notes.

If the Notes are issued at a similar premium to the price of the Notes on 17 July 2013 then the gross proceeds of the issue will be approximately £95million. As a consequence of the issue of Notes, the Board plans to repay the £34million term loan with the Royal Bank of Scotland obtained to partly finance the acquisition of Yew Holdings Limited in January 2013. £1million is also expected to be paid to the Group's defined benefit pension scheme. The Group then expects, after an allowance for fees, to have sufficient funds available to return approximately £1 per share to shareholders. If these Notes are issued, the Group does not intend to pay a separate interim dividend.

Any decision to issue further Secured Notes will be subject to market conditions prevailing at the time and the issue of a Prospectus by Dignity Finance PLC, as defined in Article 5.4 of Directive 2003/71/EC. The Preliminary Prospectus is an advertisement and does not comprise a prospectus for the purposes of EU Directive 2003/71/EC. The Preliminary Prospectus does not constitute an offer to sell or the solicitation of an offer to buy any securities of Dignity Finance PLC.

Whilst there can be no guarantee that further Secured Notes will be issued, or if issued, at what price, it is currently expected that an announcement regarding the pricing of the Secured Notes will be made on 19 July 2013 and that the subscription agreement will be executed by 23 July 2013.

The Group will make further announcements as appropriate.

Pricing of further Secured Notes


http://www.moneyam.com/action/news/showArticle?id=4635543