Funerals group warns price war will substantially reduce profits
The UK's only listed provider of funeral services has warned investors that a price war in the funerals market is likely to reduce its profits substantially during the current year.
The announcement had a dramatic impact on Dignity's shares as they fell more than 50% in early trading.
Dignity said new players in the marketplace were keen to take a slice of its business by aggressively undercutting it on price.
It has responded to the tactics by immediately slashing its own prices by a quarter.
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