StockMarketWire.com - Funeral services provider Dignity swung to a loss in the first half of the year as higher costs offset a rise in revenue amid a jump in deaths owing to Covid-19.

For the 26 week period ended 26 June 2020, the company reported a pre-tax loss of £13.6m compared with a profit of £58.3m on-year, while revenue rose 12% to £197.1m.

The number of deaths in the first half increased by 23% to 368,000.

Lower average incomes offset the financial impact of significantly higher funeral and cremation volumes, the company said.

'Given the various uncertainties currently facing the business, the group is not providing guidance on 2020 and beyond, Dignity said.

'We are however confident that the strategic review will result in a sustainable growth plan for the business, leaving it ready to respond to whatever challenges are presented by its markets and other external factors, which we remain determined to deliver without dilution for shareholders,' it added.



At 9:32am: [LON:DTY] Dignity PLC share price was +18.75p at 262.25p



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