Homeserve increases its 2018 interim dividend by 15%

DividendMax Ltd.

Homeserve increases its 2018 interim dividend by 15%

Homeserve 2018 interim results

Growth in customer numbers in all established regions, supported by a Group retention rate of 82% (HY17: 82%) and a global focus on customer satisfaction

Solid operational performance and customer service metrics in the UK, with second half weighting of profit increasing as expected: full year growth prospects remain unchanged

Strong momentum in North America, to be supplemented by HomeServe's largest ever policy book acquisition announced 19 October 2017

Continued profit growth in France and Spain

Further progress on defining and testing the Home Experts model to deliver an on-demand home improvements platform

Net debt of £304m, 1.9x last twelve months EBITDA at 30 September 2017 (HY17: £252.9m, 1.9x)

Balance sheet strength retained with £125m equity placing on 19 October 2017

Interim dividend up 15% to 4.7p

Continued expectation of further strong growth in FY18.

Announcement today that HomeServe has acquired the remaining 60% of Checkatrade for £54m in cash and shares, taking its total shareholding to 100%

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