Who said you can't keep a good man down?....when he's dead?
Nice recovery.
Business Summary
InvoCare Limited (IVC) owns and operates funeral homes, cemeteries and crematoria around Australia, New Zealand and Singapore. Key funeral brands are White Lady Funerals, Simplicity Funerals and Singapore Casket. IVC also operates two Chinese memorial gardens, Lung Po Shan Chinese Memorial Gardens and Po Fook Shan Asian Memorial Gardens. Company Strategy
IVC will build on its strong market position, expanding slowly by acquisition and continuing to enhance brand strength through advertising and superior customer service. Several brands successfully address several market segments. InvoCare reported NPAT up 64.7% to $44.48m for the year ended 31 December 2012. Revenues from ordinary activities were $368.65m, up 14.8% from last year, including a full year contribution of $69.3m from Bledisloe which was acquired on 15 June 2011. The Tuckers business, which was acquired on 10 December 2012, contributed $0.4m of sales revenue. Excluding the acquisitions, comparable business sales grew by 5.6% to $298.9m. This growth was driven by market share improvements, increased numbers of deaths, annual price changes and higher funeral disbursement revenues. Basic EPS was 40.6 cents compared to 25.6 cents last year. Net operating cash flow was $53.2m compared to $44.0m last year. The final dividend declared was 19 cents, taking the full year dividend to 34.0 cents compared with 29.75 cents last year.