Trading Statement

HOMESERVE PLC

AGM TRADING UPDATE 

LONDON - 17 July 2020- HomeServe, the international home repairs and improvements business, publishes the following trading update for the period 1 April to 16 July 2020, to coincide with its Annual General Meeting which takes place today.

In HomeServe's Membership businesses, policy renewal and mid-term cancellation rates have continued in line with historic trends in this traditionally quieter period, with no impact from the COVID-19 pandemic. Customer acquisition marketing has now resumed, with initial small-scale campaigns producing better results than expected, notably in the UK and North America. While government guidance only permitted emergency repairs during the lockdown, all claims are now being completed in each of HomeServe's territories, and customer satisfaction is at record highs reflecting strong service levels during the pandemic. In HVAC, M&A activity has restarted with a strong pipeline of attractive targets and four profitable acquisitions completed in May and June, with the most significant of these bringing 38,000 new policy customers in Spain.

In Home Experts, consumer demand for home improvements has recovered strongly across all businesses. Call traffic is at record highs at eLocal, while Checkatrade had its largest ever number of consumer web visits in June at 2.76m (June 2019: 1.74m). Among Checkatrade's 43,000 members, 87% are now paying full monthly fees, with the remainder classed as free of charge affiliate members.

HomeServe continues to expect to deliver a solid performance in FY21.

HomeServe plans to announce its interim results for the six months to 30 September 2020 on 17 November 2020.

Contacts

About HomeServe

HomeServe is an international home repairs and improvements business which provides people with access to tradespeople and technology to make home repairs and improvements easy. HomeServe is listed on the London Stock Exchange, and is a member of the FTSE 100 index.

Forward-looking statements

This announcement contains forward-looking statements with respect to the financial condition, results and business of HomeServe plc. By their nature, forward-looking statements involve risk and uncertainty because they relate to events, and depend on circumstances, that will occur in the future. HomeServe's actual future results may differ materially from the results expressed or implied in these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

ENDS