Invocare first half profit falls

Company News

by Rachael Jones

Funeral company InvoCare’s (ASX: IVC) net profit after tax attributable to equity holders is down 50 per cent to $20.8 million for the half year ending June 30th 2018.

The White Lady owner sale revenue is $225.7 million for the half year up 0.4 per cent.

EBITDA was $53.7 million for the first half, down 0.3 per cent.

The interim fully franked ordinary dividend in respect of the financial year ending 31 December 2018 amounts to 17.5 cents per share.

The company also announced their agreement to acquire all the shares in William Morrison Funeral Director which trades as Morrisons Funeral Directors in Auckland, New Zealand.

It’s InvoCare’s ninth acquisition this calendar year with six transactions now announced or completed in Australia and three in New Zealand.

Shares in InvoCare(ASX: IVC) are trading 8.96 per cent lower to $13.11
 

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.