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Trading statements

HomeServe continues to see strong growth

21 July 2017 07:16

HomeServe has seen continued strong growth in the current financial year, according to an update ahead of today's annual general meeting.

The group said trading for the period from 1 April to 20 July was in line with the expectation it reported at its preliminary results on 23 May.

It said that as previously disclosed, HomeServe's business continues to be highly seasonal, with FY18 trading expected to be more significantly weighted towards the second half.

The update said: "Momentum in North America remains strong with 2.5 million new households added in the period, driven by 24 new partner signings. HomeServe now has access to 53 million households in North America, and serves 3.1 million customers.

"HomeServe's UK business is performing as anticipated. Future growth initiatives are focused on developing a full heating repair, service and installation business, and on expanding partnerships in the insurance industry through the deployment of HomeServe's LeakBot water leak detector.

"Performance in France, Spain and Italy is also on track, with all three businesses focused on developing new and existing partnerships.

"As announced previously, HomeServe is expanding its business from the home assistance sector into the much broader home repairs and improvements market. Following the investments last year in Checkatrade in the UK and Habitissimo in Spain, early testing is under way for a range of new propositions, including a guarantee-backed model in Scotland and a payment platform for contractors in Madrid."

Story provided by StockMarketWire.com

Related Company: HSV

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