Tag: Australia funerals

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 […]

The Director. . . . “Break a leg”
Preneed

The Director. . . . “Break a leg”

Scott Turnbull is an Australian funeral director who has worked in that occupation for the past 25 years.  In an article that you can read here from the Australian Financial Review  Turnbull states that while some weddings take over a year to plan, funerals are generally planned and executed in one week or less and that results in what he says can be an underwhelming experience for the grieving consumer. Turnbull believes that planning ahead is the way to do […]

InvoCare to raise $65 million
Finance

InvoCare to raise $65 million

Australian public company funeral services provider InvoCare announced over the weekend that they successfully completed an underwritten institutional placement of A $65 million (about $US 46 million).  You can read about and see a news clip from the Australia Finance News Network here. InvoCare says that the capital raise will be applied to their strategic growth initiative.  The company also says it is excited by its growth outlook and its Regional Growth Strategy. Funeral Director Daily take:  We think that […]

InvoCare stock being shorted
Finance

InvoCare stock being shorted

I just saw this article over the weekend and thought I would send it out.  It pertains to the stock of Australian death care leader InvoCare being shorted by many investors.  Being “shorted” means, in basic terms, that many investors believe that the share price will go lower. I thought it interesting in light of our article last week about funeral homes in Great Britain and the price cutting that is happening there.  I find the evolution of Great Britain […]

InvoCare Continues Purchase Pattern
Finance

InvoCare Continues Purchase Pattern

InvoCare, Australia’s leading national provider of funerals and cremations, announced earlier this week that it will continue to build its regional markets.  They did so in the New South Wales/Victorian border area by purchasing the Lester and Son Mortuary.  You can read a clip on the acquisition here. The purchase includes two fully equipped funeral homes and a separate crematorium. Lester and Son is considered the leading mortuary in the area and is said to handle the remains of about […]