Business
Why the InvoCare (ASX:IVC) share price tumbled 5% lower today
The InvoCare Limited (ASX: IVC) share price was a poor performer on Wednesday.
The funerals company’s shares sank as much as 5% before ending the day almost 4% lower at $10.83.
Why did the InvoCare share price tumble lower?
Investors were selling InvoCare shares on Wednesday following the release of an announcement relating to its upcoming full year results.
According to the release, the company intends to recognise $26.5 million in pre-tax significant items in its FY 2020 financial results. This comprises $7 million worth of operating items and $19.5 million of non-operating items.
In light of this, InvoCare expects to report a disappointing net loss after tax in the range of $7 million to $12 million.
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