Dignity swings to a profit
Funeral provider Dignity has swung to a profit in its latest financial year.
The Sutton Coldfield-based group, which operates crematoria at Shrewsbury, Telford, Birmingham and in the Wyre Forest, has reported a pre-tax profit of £44.1 million for the 12 months to December 27 2019 after making a loss of £18 million in 2018.
It has also posted a revenue of £338.9 million for the year, down from £353.7 million.
But the company has warned it needs to be "cautious in the coming months" ahead of a conclusion from the Competition and Markets Authority of a probe into the industry, which was launched in March last year.
Chairman Clive Whiley said: "2019 witnessed a year of unprecedented change in the funeral industry.
"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."
