Profits climb for funeral operator InvoCare as death rate rises
Key Points
- InvoCare has a market share of about 33 per cent in funeral homes and crematoriums.
- CEO Martin Earp says the flu season is usually worst between July and October.
- Baby Boomers are responding to the company's modernisation program, which is 40 per cent complete.
Profits at Australia's largest operator of funeral homes are rising strongly with its sites becoming busier as the death rate rises amid ominous signs there could be a further escalation from a nasty flu season.
InvoCare is also starting to lift its market share again after a dip caused by heavy investment in renovating many of its outlets under the $200 million "protect and grow" program designed to make its funeral homes more contemporary.
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