Homeserve says trading in line; sees good growth in current year

Homeserve said it was trading in line with expectations and expected to deliver “good growth” in the current year.

“Trading, as usual, will be weighted towards the second half of the financial year, reflecting the seasonality of our marketing activity and associated renewals profile,” Homeserve said.

“The UK business is performing as anticipated and during July we signed a new affinity partnership with Dee Valley Water, a business providing water services to over 250,000 Customers in North East Wales and North West Cheshire.”

Homeserve said it continued to build its prospects pipeline In the USA and on 1 July completed the acquisition of Utility Service Partners Inc (USP), adding 0.4m customers and bringing the total number of US customers to 2.7m.

“Our businesses in France, Spain and Italy are performing in line with management expectations,” the company added.