HomeServe adds more customers

City A.M. Reporter
HOMESERVE yesterday posted a higher first-half profit from core operations, aided by growth in customer and policy numbers, and said it would not be affected by the recent floods in north west England.<br /><br />HomeServe, which provides cover for a range of emergencies such as broken boilers and overflowing washing machines, also said it was confident of meeting market estimates for a full year pre-tax profit of &pound;98m.<br /><br />For the six months ended 30September, adjusted pre-tax profit from core operations rose to &pound;18.9m from &pound;16.5m last year. Revenue grew 25 per cent to &pound;135m.<br /><br />Including a loss of &pound;4.6m from the sale of its emergency services business, HomeServe slipped to a net loss of &pound;12.5m, compared with a profit of &pound;10.1m last year.<br /><br />The company declared an interim dividend of 11.5p, up from last year&rsquo;s 10.5p.<br /><br />HomeServe, which raised its interim dividend by 9.5 per cent, said it continued to see good levels of new policy sales and high levels of renewals in the second half.<br />