Business

Dignity Funerals revenues fall in full-year results

Dignity Funerals has reported a 5% fall in revenues to £301m, compared with £315.6m in 2018.

In the 52 weeks ended 27 December 2019, the funeral provider reported a 31% decrease in profit before tax to £37.7m compared with £54.4m in 2018.

Cash generated from operations in this period also fell by 30% from £71.98m compared with £101.9m in 2018.

Dignity also reported a 41% decrease in operating profit from £75.9m in 2018 to £4.8m in 2019.

Last year, the Competition and Markets Authority investigated the funeral sector, examining how customers were treated at a time when they are vulnerable, a move which was welcomed by Dignity.

Clive Whiley, chairman of Dignity said 2019 witnessed a year of unprecedented change in the funeral industry

He said: “Whilst we were pleased with the progress we made and the financial performance we delivered in light of the competitive environment, we need to be cautious in the coming months until the CMA’s conclusions are finalised.

“Their report could materially impact the industry and the size and shape of our business. We are therefore for now, delaying key aspects of our Transformation Plan. However, the need to maintain the highest levels of customer service through modern, efficient ways of working remains.”

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