Propel Funeral Partners builds on company

Company News

by Rachael Jones

Propel Funeral Partners (ASX: PFP) has announced that one of its subsidiaries is now the registered holder of 97 per cent of the shares in Norwood Park.

Norwood Park is a funeral operator that performs over 2,000 cremation services per year and generates revenue of approximately $4.8 million a year.

Funeral company InvoCare (ASX:IVC) had expressed interest in Norwood Park last month but withdrew its intention.
Propel is the second largest provider of death care services in Australia and New Zealand.

Shares in Propel Funeral Partners (ASX: PFP) are trading up at 1.59 per cent $3.20.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.