Tag: Australia funerals

Propel Funeral Partners reports 9 months of 2020
Finance

Propel Funeral Partners reports 9 months of 2020

Propel Funeral Partners, the Australian and New Zealand based operator of funeral homes and crematoria, reported last week that their revenue for the latest 9 month period had been AUS $ 85.0 million ($55.25 m in U.S. $) as compared to AUS $69.9 million (US$ 45.24 m) for the prior year.  That is a 22% jump in revenues for the company which owns and operates 129 locations that includes 31 cremation facilities and nine cemeteries. Nine month operating EBIDTA for […]

From the investment community:  U.S. funeral costs, Australia funeral trends
Business Finance

From the investment community: U.S. funeral costs, Australia funeral trends

To roll into the weekend we thought we would give you some food for thought in the funeral industry from almost 10,000 miles apart.  Our articles today come from the investment community in both the United States and Australia.  Both are good, well thought out articles that deal with the world of death care in their own countries. I’ve always been one to look at these type of articles which deal with the funeral business on a large scale and […]

There is no doubt. . . . the world gets smaller
Uncategorized

There is no doubt. . . . the world gets smaller

We don’t have to look very far to understand that we live in an inter-connected world.  What happens in one part of the world has always led to innovation in other parts of the world.  But now with our connectivity, it just happens much faster.  And, it is always wise to look to other parts of the world for emerging trends or the justification of what is happening in your part of the planet is indeed happening in other parts […]

InvoCare delivers “Solid Profit” in 2019
Finance

InvoCare delivers “Solid Profit” in 2019

The headline from a Motley Fool piece that you can read here states, “InvoCare delivers solid profit and dividend growth in FY2019”.  Australia’s largest funeral and cremation provider recorded revenue growth of 4% for the year which led to a 19.6% increase in after tax operating earnings. For the year, InvoCare brought in revenue of AUS $ 500.35 million (US $329.17 million) and recorded after tax net profits of AUS 63.75 million (US$41.94 million). The article mentioned that the gains […]

Propel Funeral Partners growing market share
Finance

Propel Funeral Partners growing market share

This article from Yahoo Finance indicates that Australian and New Zealand public funeral operating company Propel Funeral Partners is growing market share.  According to the article it is growing both from acquisitions and an annual death rate increase in both countries. Here is an excerpt from that article: “In Propel’s FY19 investor presentation, the company drew attention to notable industry figures. With death volumes in Australia expected to increase by a rate of 2.4% p.a. until 2026 and 2.1% thereafter […]

InvoCare accused of billing irregularities
Business

InvoCare accused of billing irregularities

  Australia’s largest purveyor of death care services, InvoCare, has been accused by some of irregularities in the way that it handles its invoicing.  According to this article from Choice.com,  InvoCare routinely includes a $320, plus taxes, “administration fee” on invoices. Again, according to the Choice.com article, the administration fee functions somewhat as a “late fee”.  For instance, if you pay the invoice in full within 21 days you can then deduct the administration fee.  However, when you pay the […]

InvoCare operating earnings decline
Finance

InvoCare operating earnings decline

InvoCare Limited, the largest public company in the death care space serving Australia, New Zealand, and Singapore reported half-year earnings which indicate that Operating Earnings after tax dropped 5.2% to AUS $22.3 million from last year’s AUS $23.6 million.  In somewhat of an interesting note, Net Profits increased 97% to AUS $41.4 million because of “Earnings on Pre-Paid Funeral Funds.”  You can read more about the report from InvoCare here. Sales revenue for InvoCare grew to AUS $ 241.5 million […]

Australia’s InvoCare makes another acquisition
Finance

Australia’s InvoCare makes another acquisition

It was announced last week that the largest provider of death care services in Australia and New Zealand would be making another acquisition. InvoCare announced last week that they would be purchasing Australian Heritage Funerals located in Toowoomba, Queensland.  According to an article and news video you can read and see here, the closing will be by the end of July. According to our information on InvoCare, they operate in Australia, New Zealand, and Singapore and have about 290 funeral […]

Australia. . . the harbinger of things to come?
Business

Australia. . . the harbinger of things to come?

The funeral and cremation profession in Australia is an industry that takes in about US $ 1.12 billion in revenue each year (all amounts in this article have been converted to U.S. values).  That’s only about 7% of the purported industry revenue of $16.3 billion that the United States death care profession reels in, however, it is enough to give a significant indication on what might be coming to the U.S. in the near future. The Australian industry, according to […]

Dignity Plc reports fewer services, lower profits
Finance

Dignity Plc reports fewer services, lower profits

Great Britain’s leading purveyor of death care services reported that for the first 13 weeks of 2019 that they have had fewer services and lower profits than the first quarter of 2018.  In a statement very similar to first quarter United States public death care companies, Service Corporation International and Carriage Services, Dignity Plc said that deaths in Great Britain were down about 13% in 2019 as compared to the number of deaths reported in the first 13 weeks of […]