HomeServe adds more customers
HOMESERVE yesterday posted a higher first-half profit from core operations, aided by growth in customer and policy numbers, and said it would not be affected by the recent floods in north west England.
HomeServe, which provides cover for a range of emergencies such as broken boilers and overflowing washing machines, also said it was confident of meeting market estimates for a full year pre-tax profit of £98m.
For the six months ended 30September, adjusted pre-tax profit from core operations rose to £18.9m from £16.5m last year. Revenue grew 25 per cent to £135m.
Including a loss of £4.6m from the sale of its emergency services business, HomeServe slipped to a net loss of £12.5m, compared with a profit of £10.1m last year.
The company declared an interim dividend of 11.5p, up from last year’s 10.5p.
HomeServe, which raised its interim dividend by 9.5 per cent, said it continued to see good levels of new policy sales and high levels of renewals in the second half.