The chief executive of InvoCare, Australia's biggest funerals group, says the long-term demographics of an ageing population and a $200 million modernisation program designed to appeal to Baby Boomers has set the company up for robust growth over the next few years.

Martin Earp said the projections over the next decade were for a continued rise of about 2.3 per cent per annum in the number of people dying, which meant InvoCare had many of the characteristics of a steady and consistent infrastructure play, almost like a toll road.