So nothing to do with any of the acquisitions they made last year?
Acquisitions
During FY22, Propel reviewed a number of potential acquisition opportunities and committed $21.0 million12 on the following six acquisitions
in Australia and New Zealand:
• Berry Funeral Directors: located in Norwood, SA which has been providing funeral services in Adelaide since 1934;
• Glenelg Funerals: located in Glenelg, SA which has been providing funeral services in Adelaide for over 25 years;
• State of Grace: a funeral services provider which operates from two locations in Auckland, NZ;
• Carol and Terry Crawford Funerals: which has been operating in Geelong, VIC for over 20 years;
• Eagars Funerals: which has been operating in New Plymouth, NZ for over 60 years; and
• McKee Funerals: which has been operating in Perth, WA for over 20 years.
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