4th Apr 2019 08:10
LONDON (Alliance News) - HomeServe PLC said Thursday that adjusted pretax profit for 2019 financial year will be at the upper end of market expectations due to a solid performance in the financial year.
Shares in the company opened 4.5% higher at 1,127 pence each on the back of the profit guidance.
Market estimates for adjusted pretax profit for the year to the end of March is in the range of GBP159.5 million to GBP161.7 million, the home emergency repairs business said. In 2018 financial, the company recorded adjusted pretax profit of GBP141.7 million.
In its Membership business, Homeserve saw a mixed performance, with customers in North America rising to 4.0 million customers from 3.6 million the prior year, and French customer numbers remaining flat at 1.1 million.
However, customers in the UK declined to 2.0 million from 2.2 million due to no policy book acquisitions, and customers in Spain dipped to 1.1 million from 1.3 million due to the end of HomeServe's affinity partnership with utility company Endesa.
Within HomeServe's online trades marketplace Home Experts, home repair review site Checkatrade revenue increased by 30% with strong growth in trades recruitment. There was also a rise in the number of web visits.
HomeServe will publish its annual results on May 21.
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