HomeServe shares jump as it confirms further US expansion
HOME repairs and maintenance provider HomeServe today announced the further expansion of its US operations.
The Walsall-based group is entering the manufacturer warranty market in the US with an agreement with A O Smith Water Products, one of the largest manufacturers of water heaters in North America.
The announcement cheered the markets and shares rose in early trading.
Manufacturer warranties are a successful part of the group’s UK business and it said it was hoping to replicate this success in the US.
The announcement came ahead of an investor seminar focused on its US operation.
The seminar will see the management team of HomeServe USA discuss with investors the growth opportunities for the business in the United States. It will also highlight its experience and operational capabilities.
In a statement supporting the seminar, HomeServe said: “The group confirms that it continues to trade in line with the guidance provided in its Interim Management Statement on July 29. HomeServe will issue a pre-close trading update at the end of September and no further comment on current trading will be provided at today’s seminar.”
