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Sharp rise in deaths bolsters Dignity profits Sharp rise in deaths bolsters Dignity profits
(35 minutes later)
An unexpected rise in deaths last year helped funeral provider Dignity return to profitability.An unexpected rise in deaths last year helped funeral provider Dignity return to profitability.
The company said there was a 7% increase in deaths in the UK, excluding Northern Ireland, in 2015.The company said there was a 7% increase in deaths in the UK, excluding Northern Ireland, in 2015.
There were 588,000 deaths last year, compared with 550,000 in 2014.There were 588,000 deaths last year, compared with 550,000 in 2014.
Chairman Peter Hindley described it as an "extraordinary" year and said the percentage increase in the 2015 death rate had not been recorded in any year since 1952.Chairman Peter Hindley described it as an "extraordinary" year and said the percentage increase in the 2015 death rate had not been recorded in any year since 1952.
Provisional figures from the Office for National Statistics show death rate rises last year were at their highest in England and Wales since 1963.Provisional figures from the Office for National Statistics show death rate rises last year were at their highest in England and Wales since 1963.
Public health experts have expressed concern about the rise in deaths last year.Public health experts have expressed concern about the rise in deaths last year.
They believe cold weather and an ineffective flu vaccine may have played a part in the high numbers of deaths in the early part of 2015.They believe cold weather and an ineffective flu vaccine may have played a part in the high numbers of deaths in the early part of 2015.
Dignity expected the number of deaths this year to revert to 2014 levels.Dignity expected the number of deaths this year to revert to 2014 levels.
The company posted a £69m pre-tax profit, compared with a £67.7m loss for 2014 after refinancing its debts and returning money to investors.The company posted a £69m pre-tax profit, compared with a £67.7m loss for 2014 after refinancing its debts and returning money to investors.
Underlying profits were up 23% to £72.2m, while revenue rose 14% to £305.3m.Underlying profits were up 23% to £72.2m, while revenue rose 14% to £305.3m.
The company conducted 73,500 funerals at 767 locations throughout the UK.The company conducted 73,500 funerals at 767 locations throughout the UK.
A higher number of funerals were undertaken at a higher average revenue, Dignity said.A higher number of funerals were undertaken at a higher average revenue, Dignity said.
Mike McCollum, chief executive, said: "Our staff have performed tremendously in a year when we had to look after a lot more families than originally anticipated. Our standards remained high, as reflected in the outstanding responses from our client surveys."Mike McCollum, chief executive, said: "Our staff have performed tremendously in a year when we had to look after a lot more families than originally anticipated. Our standards remained high, as reflected in the outstanding responses from our client surveys."
Shares in Dignity share fell almost 5% to £24.43 in afternoon trading. Shares in Dignity share fell almost 5% to £24.43 in afternoon trading. Shares in the UK's only listed undertaker have risen more than 25% in the past 12 months, valuing the company at £1.2bn.