Homeserve set to unveil healthy profits boost

Homeserve, the home repairs firm, looks set to post an impressive rise in profits for the year-ending 31 March.

The firm is expecting profits to be up by 12% to £181m over the period as French and North American customer numbers grew, ofsetting a fall in the UK and Spain.

Homeserve says its 6,000 office staff are now working from home after a “monumental” effort by operations staff. The firm says it has a £780m cash facility available to it.

A statement by the company said: “HomeServe will continue to make selective investments for the future in anticipation of substantial demand for home repairs and improvements when the period of lockdown ends. While mergers and acquisitions activity is largely on hold, HomeServe is ready to act quickly if opportunities arise.”

Homeserve will reveal its audited full-year results on Tuesday 19 March. It says it is “considering” its dividend options.