17 Mar Funeral firm Dignity swings to annual loss despite UK deaths rising 14 per cent
Posted at 08:30h in Editor's Pick, Politics, Stock, Trading News 0 Comments
Funeral providers Dignity today posted an annual loss of £19.6m as a sharp rise in yearly deaths were met by Covid funeral restrictions.
The firm saw underlying profit plummet 12 per cent to £55.7m, while pre-tax profit dropped by more than a quarter to £30.7m.
Dignity made a yearly loss before tax of £19.6m compared to a £44.1m profit in 2019.
Covid-19 directly contributed to a 14 per cent increase in the total UK death toll in the period up 25 December 2020 to 663,000.
Despite the rise in deaths, Dignity’s revenues fell due to pandemic restrictions imposed by the government.
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.”