# PFP - Propel Funeral Partners



## System (1 November 2017)

Propel was established in FY2012. It is now the second largest private provider of death care services in Australia and New Zealand. Propel's property portfolio currently comprises 80 locations (46 freehold and 34 leasehold) in Australia and New Zealand, including 19 crematoria and 5 cemeteries.

Propel has a strong presence in regional areas of New South Wales, Victoria, Queensland, Tasmania, South Australia and New Zealand and an emerging metropolitan presence. Propel operates under a multi-brand strategy. Its location footprint is difficult to replicate given the majority of its funeral homes have been operating for many decades.

It is anticipated that PFP will list on the ASX during November 2017.

http://propelfuneralpartners.com.au


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## JTLP (1 November 2017)

If this is anything like IVC, I’ll buy in for the long term. 2 certainties in life, and this is one of them.


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## Ann (5 May 2019)

JTLP said:


> If this is anything like IVC, I’ll buy in for the long term. 2 certainties in life, and this is one of them.



Wise move I feel. Stuck it on my watch list.


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## sptrawler (26 February 2020)

Should have a pick up in business, as with IVC, if the corona virus becomes rampant.


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## Dona Ferentes (26 February 2020)

sptrawler said:


> Should have a pick up in business, as with IVC, if the corona virus becomes rampant.



Naw, just like Afterpay, merely bringing forward 'consumption'.

(But both IVC & PFP best performing stocks today when market down 3%


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## Dona Ferentes (18 March 2020)

PFP hasn't been shown to be immune to the sell-off (in red, plotted against XJO)


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## peter2 (23 October 2020)

We haven't discussed *PFP* since the COVID selloff.  Pretty much all we posted in the *IVC* thread applies to *PFP*. (Flu deaths dropped 99%)
The daily traded volume is much lower than *IVC* and the price is a little jerky at times. This means it's tricky for short term traders.

Price has recently broken above the resistance at 2.90. This probably due to the easing of COVID restrictions.
NSW is allowed up to 100 people, Vic up to 20 soon (Nov 1st).

*PFP* shares were in demand and making new yearly highs before the COVID selloff. That would indicate good demand from the insto's at that time. How things have changed. Once death ends it's holiday and Vic gets back to the new Covid normal *PFP*'s business will recover.






ps: Two things we can't avoid, death and taxes. I've loved the movie, Meet Joe Black.


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## peter2 (25 November 2020)

I'm sticking with this macabre investing theme. Notes from the *PFP* AGM 2020.


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## Dona Ferentes (6 January 2021)

As the biggest operator in the industry, InvoCare enjoys considerable bargaining power when it comes to sourcing coffins, cars, flowers, and the other components that typically make up funeral services.

This has allowed the company to operate at a higher profit margin than its next biggest competitor, Propel Funeral Partners Ltd.

Propel is aiming to increase its market share through acquisitions, thus potentially presenting InvoCare with increased competition.

In November, Propel announced it had completed the acquisition of The Dills Group and MidWest Funerals, which will add around 800 funerals a year to its revenue stream


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## peter2 (31 May 2021)

I didn't realise that Propel was being administered by an external Manager. The Manager gets quite a slice of the action. This arrangement is coming to an end and it seems that Propel is being rerated very favourably.


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## divs4ever (12 October 2022)

Trading Update – Q1 FY23 

Propel Funeral Partners Limited (ASX: PFP) (Propel or Company) announces that its operating and financial performance for the three months ended 30 September 20221 was materially above the prior corresponding period (PCP), reflecting strong seasonal trading conditions and organic growth, combined with contributions from acquisitions.
 In Q1 FY23 1 , Propel:
 – generated revenue of ~$44 million, up ~33% on the PCP;
 – achieved Operating EBITDA2 of ~$13 million, up ~40% on the PCP and reflecting a margin of ~30% (PCP: ~28%);
 – maintained strong Cash Flow Conversion2 ;
 – performed a record number of funerals in a quarter, up ~23% on the PCP, including material growth in comparable funeral volumes on the PCP; and
 – experienced a higher mix of full service funerals compared to the lockdown impacted PCP and FY22, which contributed to Average Revenue Per Funeral2 growth of: 
• ~9% on the PCP; and 
• ~6% on FY22. The Company’s Q1 FY23 trading:
 – included full period contributions from six acquisitions completed during FY22; and 
– did not include contributions from two new acquisitions announced3 in Q1 FY23, which are expected to complete during Q2 FY23. 
Death volumes can fluctuate over short time horizons, so caution is required when extrapolating historical data to forecast potential future performance.

 ENDS 

 i hold PFP  ( bought in December 2020 @ $3.00 )


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