On 25 September 2018, InvoCare Limitedâs (ASX:IVC) share price increased by 0.912% after companyâs announcement stating that it has entered into a conditional sales agreement for acquisition of the business and assets of Hasting District Funeral & Cremation Service (Hasting Funerals) which is based in Port Macquarie, NSW.
Hasting Funerals was established in 1930 and it is currently operating from three locations which serves the Port Macquarie and surrounding region of NSW. It is one of the largest operator in Port Macquarie and the surrounding towns of Laurieton and Wauchope. The business generates revenue of approximately $2.7 million per annum and conducts around 400 funeral services annually. The Assets purchased by the InvoCare Limited includes a fully equipped funeral home with chapel, reception lounge, mortuary, offices and parking area. The company has also purchased a private Cremation facility, a motor vehicle fleet and prepaid contracts from Hasting Funerals.
On 19 September 2018, InvoCare acquired Harrison Funerals which is based in Ballarat, Victoria for the purpose of enhancing the business and continue the growth in Central highlands of Victoria. And before that on 16 September 2018, InvoCare also acquired Morrison funeral Directors for the purpose of enhancing the business.
On 24 September 2018, InvoCare announced Dividend Reinvestment Plan share price for the 2018 interim, fully franked dividend. The Dividend is inclusive of a 2% discount and it is payable on 5 October 2018. In the first half year result of FY2018, the total sales revenue of the company increased by 0.4% to $225.7 million due to realization of deferred memorial sales. The expenses of the company also grew by 0.3% to $172.9 million. The operating EBITDA of the company declined by 7.4% to $ 23.5 million. The operating margin of the company was down by 20 bps. Due to non-recurring project related costs, the cash conversion was adversely impacted.
The company is continuing to focus on acquisitions and capital management. The operating EBITDA for the full year is expected to show a small increase over the result for 2017 and mid-single digit decline in operating EPS.
IVCâs shares traded at $12.170 with a market capitalization of $1.33 billion as on 25 September 2018.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a companyâs prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkineâs team of analysts bought you handpicked report for âTop 25 Dividend Stocks For 2018.â
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people.Â Kalkinemedia.comÂ and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.