Australia's Propel Funeral Partners slides on downbeat annual earnings view

Propel Funeral Partners

04/06/2026 04:52

** Shares of Propel Funeral Partners PFP.AX fall as much as 15.5% to A$2.99, their lowest since April 8, 2021
** Stock logs largest intraday pct decline since late March 2020
** Funeral services provider expects FY26 operating EBITDA A454.5 million-A$56.5 million vs A$56.2 million ($40.04 million) in FY25
** Attributes lower earnings to unfavourable forex translation due to more than 10% strengthening of AUD against NZD
** Co also to buy three funeral services providers in New Zealand for total of around A$9.1 million 
** Over 404,000 shares change hands, more than double the 30-day average
** Stock down 30.7% YTD, including the day's moves

($1 = 1.4035 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))