29th Jul 2005 10:43
Homeserve Plc29 July 2005 HOMESERVE PLC AGM TRADING UPDATE STATEMENT Brian Whitty, Chairman of Homeserve plc, at today's Annual General Meeting madethe following statement: "Homeserve had another outstanding year in 2004/5, achieving 31% growth inunderlying operating profit to £42.4m and policy growth of 32%. Both of Homeserve's divisions, Policy Membership and Emergency Repair, have madea good start to the year. Homeserve GB sold its four millionth UK policy in June and customer retentionrates are continuing at the levels achieved last year. Retail and ManufacturerWarranties has recently achieved a number of small contract wins, includingDebenhams. The development of our International business is a high priority, particularlyin the US where our focus is on signing up new water company and other affinitypartners. The first mailings in our recently acquired United Water policiesbusiness are achieving good take up rates and we have recently made twostrategic appointments to the International management team to acceleratedevelopment of the business. Both of our recent acquisitions, Chem-Dry and Homeserve Sergon have made goodprogress, with the latter having recently negotiated a solus arrangement withone of its major customers which will result in a potential annual increase inturnover of approximately £5m." All of the resolutions at the Annual General Meeting were passed. A further update on trading will be made shortly before the end of end of thehalf-year in September. 29 July 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HSV.L