REVENUES and profits have shown a healthy rise at Walsall-based domestic repair firm HomeServe.
In its preliminary results for the full year ended March 31, 2011, revenues were £467.1m, up 27% from £369m, while operating profit was up from £104.4m to £119.2m.
Pre-tax profit climbed from £100.6m to £117.1m and adjusted earnings per share were up from 22.2p to 25.9p.
The statement said the company had access to 68m households and policies were up by 15% to 11.4m.
In its UK operations, customer numbers are up 4% to 3m while policy numbers have risen 6% to 7.5m.
It said it had a growing US footprint with organic and acquisitive partner growth.
Chief executive Richard Harpin said: “The strength and resilience of our business model is demonstrated with worldwide customer numbers increasing 14% and high levels of retention with a global retention rate of 83.6%.
“Reflecting our confidence in future prospects and excellent cash generation we have increased the dividend by 17% year-on-year.
“Our UK business continues to grow, and achieved our key customer growth and exceeded our retention targets, with adjusted operating profit up 9%.
“Our established international operations in France, USA and Spain have more than doubled their adjusted operating profit in the year to £16m.
“This has been driven by increasing organic and acquisitive growth in the US and strong earnings growth in Doméo.”
“HomeServe has made a good start to the new financial year in each of our markets and remains well positioned for the future. We look forward to another year of strong growth.”
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