InvoCare shares hit as funeral rivals gain market share

Simon EvansSenior reporter

Updated Feb 27, 2023 – 10.58am, first published at 10.49am

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Australia’s largest funerals and crematoria operator, InvoCare, had more than $170 million wiped off its sharemarket capitalisation on Monday after rocky financial markets, higher coffin costs and a labour shortage pushed it to a loss last year.

This was despite a rebound in revenue from full-service funerals after the removal of COVID-19 pandemic gathering restrictions. Analysts suggest it had been losing market share after being unable to service all the renewed demand.

Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide.