LONDON (dpa-AFX) - British home insurance firm HomeServe Plc (HSV.L) Tuesday reported profit before tax for fiscal 2012 of 138 million pounds, higher than 104.8 million pounds in the previous year.
Excluding items, adjusted profit before tax improved to 126 million pounds from 117.1 million pounds in the preceding year.
On a per share basis, earnings increased to 34.6 pence from 23.3 pence per share in the prior year. Adjusted earnings were 28 pence, up from 25.9 pence per share a year earlier.
Announcing its preliminary results for the year ended 31 March 2012, the company said its annual revenues grew 14 percent to 534.7 million pounds from 467.1 million pounds a year ago.
Richard Harpin, chief executive of the company said, 'It has been a challenging year for our UK business, however, we continue to make strong progress in developing our International businesses...We carried out over 1.6m repairs for customers last year, demonstrating that our products and services continue to meet real customer needs both in the UK and our International markets.'
The board has also proposed a final dividend of 7.67 pence per share, bringing the total dividend for the year to 11.3 pence, an increase of 10% from last year. The final dividend will be paid on August 1, 2012, to shareholders on the register on June 29.
Separately, the company announced the forthcoming appointment of Johnathan Ford as chief financial officer. He is expected to join HomeServe on October 1, 2012.
Ford is currently the Group Finance Director of NWF Group plc, an AIM listed specialist agricultural and distribution group.
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© 2012 AFX News
