Homeserve shares pushed up after strong annual results

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Homeserve shares pushed up after strong annual results
Master Investor Magazine

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FTSE 250 emergency repairs business Homeserve (LON:HSV) has seen its share price climb by 3.94% to 1,135p (as of 12:30 BST) after it published results for the year ended 31st March. Revenues for the group rose by 12% and profits before tax were up by 13% as the company’s North American operations continued to perform well.

Chief executive Richard Harpin commented: “HomeServe delivered another very good year with further profit growth across the Group. North America was once again the outstanding performer and our progress there continues at pace. Allied to good performances in the UK, France and Spain, our Membership business is strong and I remain excited about its prospects.

“Checkatrade is already making great strides to strengthen its position as the UK market leader and offer an even better trade and consumer experience. In Home Experts we have a business line with huge potential. The progress we have made this year has confirmed that we are developing a winning model and gives us the confidence to increase our annual investment.

“Our mission is to make home repairs and improvements easy for both homeowners and trades and I remain as passionate as ever about our efforts to provide great service to achieve this“.

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