Dignity makes a difference

Charles Cowling

Dignity figures

Capital expenditure at foot of page

 

And today’s difference is that between Dignity plc’s capital expenditure in the 52 week period ending 27 Dec 2013 — £12.4 million

and capital expenditure in the 52 week period ending 27 Dec 2013 — £1.4 million

This saving of £11 million is huge in the context of declared quarterly profits of £25.4 million. Had Dignity maintained capital expenditure at 2013 levels, profits would be down by… 40 per cent?

You can read the full document here.

Your interpretation of the figures would be very welcome.

Digfigs

Click the pic to bring it up to full size

 

4 thoughts on “Dignity makes a difference

  1. Charles Cowling
    Charles Cowling

    Andrew, thank you. I wasn’t being naughty, honest, merely curious. I am innumerate, so have no means of picking the bones out of a balance sheet. Your clarification is a welcome shaft of light that lightens the darkness.


    Charles Cowling
  2. Charles Cowling
    Andrew Hickson (Kingfisher Funerals)

    You have been a little bit naughty here Charles, and only read what you want to read.

    The figure in bold is below the line (and it’s a pretty thick line in fairness) and is not “Capital Expenditure in the 52 week period…” as you report, but Capital Expenditure Calendar YTD (calendar year-to-date) – which it does make very clear if you don’t just take a couple of columns out of the whole page.

    The 1.4M is only 1/4 of a year, not a full year. A quick check on Companies House website shows their financial year ends in December, so a figure of this amount would seem totally reasonable given that it represents the first quarter of their year.

    Their capital expenditure in the fourth quarter (October to December) will naturally be higher so that they make use of tax reliefs once they have a good idea of their profit margins for their financial year.

    12.4M is a 52-week figure, so includes a year-end expenditure.

    That makes good business sense to me.


    Charles Cowling
  3. Dignity shares nosedive! | The Good Funeral GuideThe Good Funeral Guide

    […] GFG blogged about Dignity earlier this week — and look what happened to the share […]


  4. Charles Cowling
    andrew plume

    mmm, yes indeed

    ……….if you do not mind Charles, I’ll sit this one out and let someone else pull their figures apart etc etc

    best

    andrew


    Charles Cowling

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