LONDON (dpa-AFX) - Shares of Homeserve Plc (HSV.L) were gaining around 6 percent in the early morning trading in London after the home repairs and improvements business Thursday said it has had another very good year in 2019, with adjusted profit before tax expected to be at the upper end of market expectations. The adjusted profit before tax will also be significantly ahead of the 141.7 million pounds delivered in fiscal 2018.
Analysts' estimates for adjusted profit before tax range from 159.5 million pounds to 161.7 million pounds with a mean average of 160.6 million pounds.
In its trading update in respect of its financial year ended March 31, the company noted that in the Membership business, North America reached the milestone of 4.0 million customers, up from 3.6 million last year.
In the UK, customer numbers were 2.0 million, down from 2.2 million, reflecting continued good retention but no policy book acquisitions in FY19.
In Spain, customers reduced to 1.1 million, down from prior year's 1.3 million following the end of the affinity partnership with Endesa, as previously announced. In France, customer numbers saw a small increase and were 1.1 million.
In Home Experts, HomeServe's online trades marketplace, revenue at Checkatrade increased by over 30% and trades recruitment grew strongly. Consumer web visits also increased and a new management team with experience in fast growing digital businesses is now in place to drive the business forward in FY20 and beyond.
HomeServe will hold an Investor Day on June 20. Further details will be communicated shortly.
In London, HomeServe shares were gaining around 5.6 percent to 1,132 pence.
Copyright RTT News/dpa-AFX
© 2019 AFX News
