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Funeral services provider decries low business due to few deaths ▷ Kenya News

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– The CEO of the business claimed that during good weather, fewer people die

– He also blamed the business’s decision to stick to its prices despite surging competition

– The UK based business will exploit partnerships and innovations in a bid to recover from the shock

Co-operative Group Funeral business in the UK has reported a 6% drop in its annual revenue, the group’s financial statement has revealed.

The business’s CEO Steve Murrells attributed the fall in income to a drop in number funerals.

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The funeral business will entrench partnerships, innovations and flexibility in a move to restore its position. Photo: Co-operative Funeralcare
Source: Facebook

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The number of funerals dropped from 53,213 in 2018 to 48,423 captured over the same period under review in 2019, Sky News reported on Thursday, September 12.

“The unexpected fall in the death rate has been a key factor in our performance,” read part of the statement.

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Murrells cited good weather as a factor that might have driven down deaths but was quick to mention that when colder days strike, the number might start rising.

“The weather plays a part and the fluctuation in the death rate is ever thus,” the CEO explained.

Apart from funeral business, the mutually-owned Co-operative Group also runs supermarkets.

Mortality rate in the UK, is believed to have steadily decreased between 2001 and 2016. Death rate has, however, been fluctuating but with improvement.

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Murrells, nonetheless, pointed out that the development might have been fueled by their decision to cling on their prices while the market had other competitive players.

The funeral business, he said, will entrench partnerships, innovations and flexibility to continue remaining afloat.

In overall, the investments saw their pre tax profits drop to KSh 2.432 billion (£19 million) in first half of 2019 from KSh 3.20 billion (£25 million) recorded over same period under review in 2018.

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