Tag: Invocare

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 […]

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 […]

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 […]

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 […]

Acquisition News — Foundation Partners/InvoCare
Finance

Acquisition News — Foundation Partners/InvoCare

Foundation Partners, based in Orlando, Florida recently announced that they had made an acquisition to their family of brands.  They announced that they had acquired Legacy Funeral & Cremation Care in San Diego County, California.  You can read a press release here. The purchase from the Savino family represents an opening into the San Diego market for Foundation Partners. Legacy appears to be a low cost provider of cremation services with their web-site listing Direct Cremation beginning at $895 and […]