WALSALL-based domestic repair firm HomeServe said today its UK operations were on track to deliver customer growth of 3% for the full year.
In a trading update for the period April 1 to July 29, 2011, the Black Country plc said its UK operations had “made a good start to the year with continued growth in customer and policy numbers”.
Retention rate remained high, it said, and was in line with the 82.7% reported for 2011 while earlier this month it renewed its banking arrangements with an increased credit facility of £250m.
The statement added: “HomeServe has continued to grow and develop its membership businesses in the first four months of this financial year.
“Earlier this month we were pleased to announce the recruitment of our five millionth customer from Pennsylvania.
“Over the past 12 months, our marketing activity has significantly increased (in America) as we have rolled out our products to additional partners and our growing customer base.
“The cost of this marketing activity together with the seasonality of the National Grid business acquired in August 2010 will, as we expected, result in our US business reporting a higher operating loss in H1 2012 than in H1 2011 (£1.2m).”
The firm, which holds it AGM today, added that it continued to invest in its businesses in Belgium, SFG in France and Italy.
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