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Results: DTY

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Disagreements at Dignity continue to get bigger and bigger: Beer & Popcorn time (again)

There is more fun this morning at Dignity (DTY) I see. Just under a month ago HERE, I wrote about the funeral related service company that its ‘underlying profitability is still sharply down as the heightened competitive realities continue to impact’ and the share ‘remains a strong avoid for me’. Since then the shares have been either side of 650p and are little changed this morning after the announcement of a ‘Response to statement made by Phoenix UK Fund Limited ("Phoenix") on 12 April 2021’. So what is going on?


Dignity still has multiple challenges...

Back in August I observed the Competition and Markets Authority giving funeral operator Dignity (DTY) a bit of a free bus pass. Back then I was wholly unconvinced this had changed the investment story sufficiently to warrant the share price romp that occurred, observing that 'it feels to me as if another shorting opportunity is building'. Well if you had got your timing about right that would have worked out pretty well, with the share peaking at just over six quid after the update before falling about two quid in the subsequent few weeks. Good darts if you are smart. I kind of feel that an akin opportunity is building again...


The CMA blinks but - sorry Dignity - the internet genie is out of the bottle

You have probably already figured out that I am not a great biblical scholar, but reading the thoughts of the Competition and Markets Authority (CMA) on the funeral sector today reminded me of the words of Saint Augustine who recounted that he would pray - in his earlier days - "Lord, make me chaste—but not yet." I do not want to come over as aggressively harsh so I will presage these thoughts with the observation that everyone impacted by the health consequences of the pandemic has my sympathy. However, the CMA has fudged its in-depth market investigation into funeral services in a major way - to the detriment of the average consumer - by citing the pandemic as a reason not to be fiddling with the sector at this moment in time...

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