Funeral related services provider Dignity has warned that results for this year will be substantially below forecasts as it is cutting its prices to protect its market share.
It said that while the pre-arranged and crematoria businesses were performing strongly with no change expectations for these businesses, the board was keen to address the continuing acceleration of price competition facing its funeral business.
It said the group's simple funeral would be reduced by an average of approximately 25% and there would also be a price freeze for the group's traditional funerals in the majority of its locations.
It said these changes were effectively immediately.
The group said it was now embarking on a rigorous review to ensure that its funeral operations were organised to run more efficiently and effectively. The group said it remains committed to being recognised as the best-quality service provider in the market place cand prides itself on its excellent customer service results and this would continue to be a strategic priority.
Dignity said its results for the year ended 29 Dec would be in line with forecasts.