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Park Lawn Corporation Finishes 2019 with Strong Year-Over-Year Growth, Responds to COVID-19 Challenges and Appoints J. Bradley Green as Interim CEO
• Exhibits continued execution of growth strategy with six acquisitions valued at approximately $180 million and successful integration of US platform
• Moves towards aspirational growth target of $100 million in pro forma Adjusted EBITDA
TORONTO, ONTARIO (March 30, 2020) - Today, Park Lawn Corporation (TSX: PLC) (“PLC” or the “Company”) announced its results for the fourth quarter (“Q4”) and year ended December 31, 2019. The results show strong revenue growth, with a year-over-year increase of 51.3% and an increase of 36.2% for Q4, as compared to the same period in 2018. Net Earnings attributable to PLC shareholders were $6,906,841 in 2019 compared to $6,722,456 in 2018. On a fully diluted per share basis, this represents $0.246 for 2019, as compared to $0.325 in 2018.
Park Lawn Corporation Accelerates Development of the Eternal Sunset Memorial Park and Cemetery
Approximately 12,000 new lots have been developed since November 2018. Phase 2 construction is underway with 6,000 new lots expected to be developed by the end of 2020
March 5, 2020 - CNW/ - Park Lawn Corporation (TSX: PLC) ("PLC" or the “Company”) is pleased to provide an update on the continuing development of the 78-acre Eternal Sunset Memorial Park and Cemetery in Lafayette, New Jersey. Since November 2018, PLC has developed and opened approximately 12,000 new lots in inventory, having sold lots to multiple associations and hundreds of families. The Company has also begun development of another 6,000 lots, with an anticipated completion date of December 31, 2020.
Growth Strategy Execution Continues with Construction Launch of On-Site Funeral Visitation and Reception Centre at Westminster Cemetery
New 32,100 square foot facility will be Park Lawn’s first on-site funeral visitation and reception centre in Canada
TORONTO, March 2, 2020/CNW/ - Park Lawn Corporation (TSX: PLC) (“PLC” or the “Company”) is pleased to announce that construction of an on-site funeral visitation and reception centre at the Westminster Cemetery in Toronto, Ontario is now underway. The 32,100 square foot facility will be the Company’s first on-site funeral visitation and reception centre in Canada. Park Lawn currently owns 18 on-site funeral homes as part of its PLC portfolio, which provide the highest margins of all business units.
Listen to the Year-End 2019 Earnings Call:
Specialists in Memorialization, Cemetery and Funeral Services
Park Lawn Corporation (TSX: PLC) is the largest publicly traded Canadian-owned funeral, cremation and cemetery provider and is the fastest growing company in the industry in North America. Since 2013 PLC has grown from 6 cemetery properties in Toronto, Ontario to a diverse portfolio of properties and businesses operating across Canada and the US.
With a dynamic leadership team and innovative approach to our operations, PLC has a strategic advantage over the more traditional players in a stagnant industry resistant to change. As the company continues its strong growth both organically and through acquisition, PLC is changing the way products and services are delivered and how customers engage with the marketplace.
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