Dignity has reported a pre-tax loss of £19.6m for the full-year ended 25 December, despite revenue increasing over the period due to the pandemic.
This marked a fall from its profit of £44.1m in 2019, although reported deaths in the UK increased year-on-year by 14% over the period.
Revenue rose by 4% in 2020 to £314.1m, with higher personal protective equipment costs and government limits on how many people are allowed to attend funerals contributing to a weaker performance, according to Dignity.
Clive Whiley, chairman of Dignity, said: “During 2020, we have continued to be focused and resilient in the light of many changes, however the business has remained robust.
“Whilst Covid-19 featured heavily in our day-to-day activities into the first quarter of 2021, we did not lose sight of the numerous project work-streams initiated in the last year, aimed at affording the Board the time and collateral necessary to allow the business to self-heal, without recourse to dilutive funding initiatives.”
He added: “In a unique and challenging year, it is the dedication of our staff that has enabled continued delivery of our services, supported by a refreshed strategy and management team.
“Our people are fundamental to both the Group’s success and sustainability and I would like to thank them for their significant contribution, resilience and commitment to service during what has been an exceptional time for society, bereaved families, our people and our business.”