Tag: Invocare

Afternoon Edition

Heading into the weekend . . . .

It’s Friday and we are heading into the weekend preceding the Thanksgiving holiday.  With all of the death care companies reporting earnings reports in the last couple of weeks and our coverage of those we have a few articles that we feel our readers should have access to, yet we are not able to feature them in individual articles. So, here are some links that you can check out on your own this weekend. . . . .and they bring […]

Finance

Australia’s InvoCare pays US$ 36.4 million for pet cremation businesses

You can read this article from Australia’s Market Herald that announced that Australia’s largest human funeral and cremation provider finalized a deal to purchase two pet cremation business in the country for a combined price of US $36.44 million ($49.8 million in Australian dollars). We learned that last week, InvoCare, purchased Family Pet Care and Pets in Peace to add to its pet cremation brand, Patch and Purr, which it started in 2018.  According to the article, Family Pet Care, […]

Afternoon Edition

Afternoon Edition: Learning from down under and across the pond

You have heard me say many times that small funeral home operators can learn a lot from watching what the public companies are doing in the business.  I’m also of the opinion that those of us in North America can learn much from what our colleagues in Australia and Great Britain are doing. . .  .especially in that they seem to be ahead of their North American counterparts in how they service cremation client families in that ever growing segment […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]