Australia's Propel Funeral Partners hits record high on acquisitions

Propel Funeral Partners

14/09/2021 02:19

** Shares of Propel Funeral Partners  PFP.AX  rise as much
as 5.5% to record high of A$4.0
    ** Funeral service provider says https://investors.propelfuneralpartners.com.au/DownloadFile.axd?file=/Report/ComNews/20210914/02421075.pdf
 it executed agreements to buy three funeral services businesses
and related infrastructure, marking entry in Adelaide and
expanding in Auckland
    ** Deal to buy three funeral services firms for A$17.6 mln
($12.96 mln)
    ** Says businesses expected to be earnings accretive in
first year
    ** Stock posts biggest intraday pct gain since Aug 25
    ** About 90,000 shares change hands vs 30-day average of
more than 43,000 shares
    ** Stock among top 10 percentage gainers in the ASX All
Ordinaries index  .AORD 
    ** PFP up 33% this year, as of last close, vs a 12.8%
increase in the ASX All Ordinaries index  .AORD 


($1 = 1.3583 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))