Invocare (IVC) - slow and steady funeral business

[RRR]

Invocare has funeral homes, crematoria and cemeteries in Australia and Singapore and has been growing steadily, predominantly through acquisitions. Recently, it has acquired the market leader in NZ-Bledisloe.

Some figures (approx)-
Shares-100m ($7.41)
ROE-40%
Operating margin - 20%
Net profit margin - 15%
Div yield - 3-4% (80% payout ratio)
PE - 20

I would be keen to hear from other posters about this company. It looks good to me, although slightly expensive.