Tag: Invocare

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 […]

StoneMor:  “We’re solvent enough. . .”
Business Finance

StoneMor: “We’re solvent enough. . .”

Most people in the death care profession know that StoneMor, Inc. has, for the last couple of years, been on what they term an “operational turnaround”.  The company, based just outside of Philadelphia, is said to be the second largest, next to Service Corporation International (SCI), death care company in North America.  The death care market is believed to be about $21 billion in annual revenues and StoneMor is believed to have about 1.5% of that market.  It is believed […]

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 […]

InvoCare to “back down” on administrative fee
Business

InvoCare to “back down” on administrative fee

  An article that you can see here from Choice indicates that Australian funeral market leader InvoCare will back down on an “administrative fee” that is added to all funeral statements.  According to the article, InvoCare’s Keiron Humbler, when asked about the removal of this fee commented, “That’s the plan”. Funeral Director Daily first told our readers of the complaint in this article last November.  In essence, this fee of $320 detractors contend, is a “late fee” added before the […]

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 invests in new cloud and bandwidth technology
Products

InvoCare invests in new cloud and bandwidth technology

Sometimes the way we communicate is overlooked and can, over time, creep costs upward and move operational productivity down at the same time.  Things like internet services and the providers that we use need to be reviewed every so often. InvoCare, which operates 290 funeral locations and 16 cemeteries across Australia, New Zealand, and Singapore just made a decision to make sure that all locations had the bandwidth and network capacity to make sure that they could live stream funeral […]

Acquisitions keep on rolling around the world
Finance

Acquisitions keep on rolling around the world

There are a lot of reasons that businesses, including funeral homes, change operational and ownership hands.  Sometimes a single proprietor gets a price that he just can’t turn down.  Sometimes a single proprietor just wants to retire and either has no family to go into the business or family that wants to pursue other goals and ambitions. Sometimes the transaction is spurred by the acquiring company that wants to get larger and has ideas where, through operational efficiencies and promotion,  […]

Is this the next “thing” for your funeral home?
Business Cremation

Is this the next “thing” for your funeral home?

In 2011 Davina Bambrick was forced to euthanize her 14-year old dog, Bennie.  She now says that the worst of that situation was when “Bennie was abruptly whisked away” after being euthanized.  She commented recently, “It was kind of an unusual process, that lacked a lot of care or empathy at the time.  We weren’t offered any advice, and we weren’t offered any choices.” According to this article from Sunday’s Sydney (Australia) Morning Herald, Bambrick has now worked through that […]

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 […]