Dignity has swung from a nearly £20m loss amid strategy overhaul at the UK’s only end-of-life provider.
The London-listed company reported a £32m profit in the year to 31 December, however, revenue was largely flat, dipping just one per cent to £353.7m in the period.
Dignity has also recovered earnings per share over the past 12-months, pulling in 24.2p per share after swallowing a 51p loss per share in the same period in 2020.
Operating profit jumped 12 per cent to £17.8m, as chief executive Gary Channon hailed a year of “great change” at the company.
“There isn’t a part of Dignity that hasn’t been affected by the transformation so far as we inverted the whole organisation, empowered those serving clients and organised ourselves in a more collaborative structure,” he said in a statement.
“Although there is still much work to do to complete the restructuring, we know what we need to do.”
It comes as Dignity files its application to the Financial Conduct Authority for the pre-paid funeral plan market, which has new regulation coming into force in July.