Listed home repairs business hails ‘very good’ year
Home repairs business HomeServe has reported “another very good year” with 2019 pre-tax profits expected to be significantly ahead of the £141.7m delivered the year before.
For the year to the end of March 2019, Walsall-based Homeserve, whose UK chief executive Greg Reed was crowned Leader of the Year at TheBusinessDesk’s Midlands Leadership Awards last year, said its membership business in North America reached the milestone of four million customers compared to 3.6m in 2018 as the business continued to grow strongly.
In the UK, customer numbers were two million compared to 2.2m the year before, “reflecting continued good retention but no policy book acquisitions in FY19”.
In Spain, customers reduced to 1.1m following the end of the affinity partnership with Endesa, while in France, customer numbers saw a small increase and were 1.1m and a new partnership was signed with Saur, the third largest water utility.
In Home Experts, HomeServe’s online trades marketplace, revenue at Checkatrade increased by over 30% and trades recruitment grew strongly.
It said consumer web visits also increased and a new management team with experience in fast growing digital businesses is now in place to “drive the business forward in FY20 and beyond”.
