Highlights
Capital structure refinanced with new 35 year investment grade secured debt, reducing annual debt service obligations (principal and interest) from approximately £40 million to approximately £33 million per annum;
As previously announced, non-cash charges resulting from this refinancing have led to a reported statutory loss;
£64.4 million of cash returned to shareholders (£1.20 per share) following this refinancing;
Eleventh consecutive year of operating profit growth since flotation in 2004;
Strong operating performance by all three operating divisions;
Profits continue to be converted to cash;
Customer satisfaction remains at very high levels, with 99 per cent of families saying we met or exceeded their expectations and 98 per cent saying they would recommend us;
£24.7 million invested in funeral acquisitions, adding a further 30 funeral locations to the Group's portfolio;
Four satellite locations opened within the funeral business;
Memorial sales remain robust; and
Another strong year of pre-arranged funeral plan sales, with unfulfilled pre-arranged funeral plans increasing to 348,000.
Mike McCollum, Chief Executive of Dignity plc commented:
2015 has started strongly and the Board's expectations for the year remain positive and unchanged."
