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 (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

Special divi payable in October would be £1.08.
Worth thinking about if buying now. There will be no interinm
divi but that would have been about 5p historically.

Notice of General Meeting and Issue of Prospectus

RNS


RNS Number : 8783J

Dignity PLC

22 July 2013












For immediate release 22 July 2013

Dignity plc

Notice of General Meeting of Dignity plc and Issue of Prospectus by Dignity Finance PLC

Further to the announcement on 19 July 2013, Dignity plc is pleased to confirm that the subscription agreement for the issue of further Secured Notes has been executed. Dignity Finance PLC has also today issued a Prospectus in respect of the issue of further Secured Notes.

The Group will post a circular to shareholders on 23 July 2013, including a notice of general meeting. The notice sets out resolutions which, if passed, will give shareholders the ability to receive the £1.08 per share cash return either in the form of a dividend or return of capital. Copies of the circular may be obtained from the Group's investor website www.dignityfuneralsplc.co.uk. The meeting will be held on 8 August 2013 at 11.00am.

The Prospectus confirms the pricing and quantum of the new Secured Notes at the levels announced on 19 July 2013 and the circular confirms the Group's intention to return £61.9 million, equating to £1.08 per share to its shareholders. The Dignity Group also confirms that as a result of this intended return, no interim dividend will be paid.

Commenting on the issue of further Secured Notes and the proposed return of value, Mike McCollum, Chief Executive said:

'This transaction demonstrates the Group's ability to use the stable, cash generative nature of the business to support an efficient capital structure and generate additional value for our shareholders.'

Circular relating to proposed Return of Cash

RNS


RNS Number : 9830J

Dignity PLC

24 July 2013












For immediate release 24 July 2013



Dignity plc (the "Company")

Circular relating to proposed Return of Cash

Further to the announcement made on Monday 22 July 2013 the Company confirms that the circular relating to the Company's proposed return of cash, including notice of the general meeting of shareholders to be held on 8 August 2013, has been posted to shareholders. A copy of the circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

Interim Results

Funeral operator Dignity achieves higher half-year profit

Wed, 31 July 2013

UK funeral services provider Dignity unveiled a 17.6 per cent increase in pre-tax profit in the first half to 32m pounds, buttressed by a 5.6 per cent rise in the number of deaths.

Revenue in the 26 weeks to June 28th jumped 14.3% to £133.2m while underlying earnings per share rose 17.6% to £44m.

Underlying operating profits came to £45.3m, up 15.6% and slightly ahead of the company’s expectations.

The group said funeral operations have performed strongly, with client satisfaction high and average incomes robust.

The crematoria division experienced volume growth as recently opened locations continue to mature.

While the number of pre-arranged funeral plan sales were slightly down on the prior year, good cost control resulted in operating profit before recoveries growing year on year.

Since the acquisition of Yew Holdings in January, the business achieved operating profits of £2.1m in line with expectations.

Mike McCollum, Chief Executive of Dignity, said: "The first half of 2013 has seen a strong operating performance from our established operations and our largest single acquisition. Since the period end, we have announced a proposed third return of cash since flotation.

“The group remains on track to achieve the board's expectations for the full year."

No interim dividend was issued due to its fundraising on July 30th when it completed an issue of further secured notes. It raised £97.7m of gross proceeds which will be used to repay the firm’s £34m term loan obtained on the acquisition of Yew Holdings and to provide shareholders with a £61.9m return of cash equating to £1.08 per ordinary share.

Shares fell 2.08% to 1,505p at 11:17 on Wednesday.

31 Jul N+1 Singer 1,287.00 Hold