Business

Co-op H1 revenues rise 3.5% to £148m

Co-op Funeralcare has revealed revenues for the first half of the year increased by 3.5% to £148m. 

The funeral provider also revealed its underlying profit rose to £17m during the period and comes as the number of funerals increased 22% to 59,000.

However, it added the volume increase was partially offset by government funeral restrictions, which led to 20,000 simpler services held.

Co-op said further highlights during the period included:

  • Extra PPE sourced and mortuary space secured
  • Hardship fund launched to help bereaved families of key workers
  • Innovative new propositions and services introduced for bereaved during pandemic:
  • Cortege service developed with option to pause outside family homes
  • Funeral services streamed for those not able to attend
  • Delayed celebration-of-life events developed

Looking ahead it said it expects the “exceptional” impact and challenges created by Covid-19 will continue into the second half of the year. 

Since the end of the first half, the Competition and Markets Authority (CMA) published its provisional findings into the market. And the The Co-op added it will continue to “work closely” with the CMA through the remainder of process

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