Australian funeral industry ‘on notice’ as Propel Funeral (ASX:PFP) fined by ACCC

The Propel Funeral Partners Ltd (ASX: PFP) share price has risen slightly today, despite news that the Australian Competition and Consumer Commission (ACCC) fined two of the company’s regional businesses.

WT Howard Funeral Services in Taree and Coventry Funeral Homes in Townsville both continued to advertise themselves as “proudly local and independently owned” after they were bought by Sydney-based Propel in 2015 and 2019, respectively. 

The ACCC fined both businesses $12,600 for making false and misleading representations about their ownership, which led the Commission to warn the funeral sector that it plans…