The UK’s only listed provider of funeral related services
14-Mar-2018 – 853p – £425.9m – PER 12.6
Results For The 12 Months To End December 2017 – Seems to be in-line (ish). Outlook statement does not sound particularly bullish except deaths are up 7% so far in 2018, expectation was no increase.
3 times cheaper than 6 months ago, in-line is not going to get me interested yet.
18-Apr-2018 – 932.5p – £466.3m – PER 13.7
Trading Update For Q1 2018 – Revenue was approximately £95m compared to £93m last time with EBIT (£37.5m) flat (but significantly ahead of the Board’s expectations). Continues to conduct price and service trials. FY Results expected to be ahead of current market expectations.
Encouraging, perhaps turning a corner. I remain Neutral for now and will watch for updates.
12-Nov-2018 – 1044p – £522.1m – PER 14.6
Q3 Trading Update – Revenue flat with Underlying Operating Profit down -14%, the only thing rising, the number of deaths (up 3%) – In-line with current FY market expectations.
Not enough here to change my Neutral stance.
15-Jan-2019 – 720p – £360m – PER 10.4
Trading Update For The 12 Months To End December 2018 – Expects to report Operating Profit circa £79m, ahead of current market expectations, expectations for 2019 are unchanged.
I don’t see much reason to be “bottom picking” here.