Invocare profits up 120.1%
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Funeral home and cemetery operator Invocare Ltd has reported a half year profit increase of 120.1 per cent in FY11, and says the outlook for further growth is positive,
The company reported a net profit of $14.5 million for the six months to 30 June, up from $6.6 million in the corresponding period last year.
Total revenue was up 10.1 per cent to $143.2 million.
The company declared an interim dividend of 13.5 cents, fully franked, up from 13 cents at half year in FY10, fully franked.
The company said it had benefited from increased numbers of deaths, annual price changes, higher funeral disbursement revenues, and more market share.
At 1029 AEST, shares in InvoCare were down one cent, or 0.14 per cent, at $7.25.
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