Homeserve raises dividend after profit surge

City A.M. Reporter
HOME insurance group Homeserve hiked its dividend by nearly a quarter and reported a 13 per cent rise in full-year profit, boosted by international growth and strong customer retention.

The company reported an underlying pre-tax profit for the year to end-March of £100.6m. compared with £88.7m for its restated 2009 profit.

Market expectations had predicted the figure to be £99.2m

Homeserve, which provides cover for a range of emergencies such as broken boilers and overflowing washing machines, said it has started the year in line with expectations and is "looking forward to another strong year of growth."