Toronto based funeral industry company Park Lawn Corporation released a press release that you can read here about its 2018 year end performance earlier this week. As you may know Park Lawn Corporation has grown greatly this year by acquisitions including The Signature Group, CMS Mid-Atlantic, and Citadel Management in the United States as well as incremental unit growth in Canada.
We have not seen financial results nor have we had a chance to read the investor transcript so for now we will give some limited information from the press release.
Here is some highlights of what they point out in their release:
- Revenue grew over 84%
- Net earnings were $6.7 million as compared to $4.1 million in 2017
- The company reported investing $275 million on strategic acquisitions.
- The company was able to raise their borrowing capacity to $225 million from $150 million.
Other Industry News:
Here is some other industry news we noticed that you may be interested in:
Forest Lawn Cemetery Company appoints three new Vice-Presidents. . Read about it here.
An Iowa funeral director was sentenced to probation for allegedly raiding pre-arrangement funds. Read about it here.
A cemetery in Alabama has closed – at least for the time being – because of financial difficulties. Read about it here.
An update on a Minneapolis cemetery whose owner is willing to give it away to the city. Read about it here.