More Australians are being laid to rest by funeral and cemetery operator InvoCare.
The company says there has been an increase in funerals during July and the first two weeks of August, with sales lifting by 7.5 per cent, continuing an upswing that began in May.
But InvoCare is not sure what is driving the rise in funeral numbers, since there are no up-to-date death statistics.
The spike arrests a year-long decline that started in April 2013, during which fewer Australians passed away, and the company also lost market share.
Chief executive Andrew Smith said InvoCare had provided more services for grieving Australians since May, and returned its market share to 33 per cent.
"That downwards trend in the number of deaths has been reversed and we're seeing the number of deaths up," Mr Smith said.
"And we're estimating that our market share has stabilised."
InvoCare's profit in the first half of 2014 dropped three per cent to $20.8 million, as the previous year's first half profit included some one-off gains.
Mr Smith said InvoCare was looking to make a number of small acquisitions in the second half of 2014.
As well as expanding its number of funeral homes, InvoCare also plans to spend $20 million on upgrading its facilities, improving digital technology and upgrading its vehicles.
Mr Smith said around $5 million will be spent on a Perth funeral home, while the company will invest between $6 million and $7 million on its fleet of hearses and other funeral vehicles.
InvoCare shares gained 92 cents, or 8.6 per cent, to $11.64.
INVOCARE BOOSTS BUSINESS BUT PROFIT FALLS
* Half year net profit of $20.8m, down three pct from $21.5m in 2013
* Sales revenue of $196m, up 6.8 pct from $184m
* Interim dividend of 15.75 cents a share, up from 15 cents
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