$69 postpage LB

Propel Funeral Provides Trading Update; Reported 10% Drop in the Average Revenue Per Funeral

  • May 08, 2020 12:20 PM AEST
  • Team Kalkine

Gold MTF non-AMP

Propel Funeral Partners Limited (ASX:PFP) in its trading update highlighted that the financial results for nine months ended 31 March 2020 were materially above the previous corresponding period.

In April 2020, despite COVID-19 pandemic & social distancing measures in Australia as well as New Zealand, the company did not face any material impact on funeral volumes. Also, the Average Revenue Per Funeral dropped by ~10%.

The company is well funded to face the challenging economic and trading conditions due to COVID-19 as well as to continue its acquisition led growth strategy. Presently, it has ~$69 million as the available funding capacity. It has $49 million of cash at bank and $40 million fund available from the undrawn $150 million debt facility.


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