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Funeral services company Dignity swung to an annual profit despite a decline in revenue on lower deaths.
The company cautioned on outlook as UK authorities conclude their probe into the industry in the coming months. The probe was launched in March last year.
For the 52 week period ended 27 December, the company reported a pre-tax profit of £44.1m compared with a loss of £18m on-year even as revenue fell 4% to £338.9m
The number of deaths fell to 584,000 from 599,000 reducing average funeral income.
Looking ahead, the company said the average income per funeral and cremation were likely to reduce further.
Our 'transformation plan is strong however timing needs to be amended pending the outcome of the CMA investigation, thereby delaying anticipated savings' the company added.
At 9:58am: (LON:DTY) Dignity PLC share price was -96.7p at 403.3p